German technology provider WISI Communications has successfully concluded the insolvency proceedings for restructuring under self-administration. The insolvency plan, prepared by the management in self-administration, was unanimously approved by the creditors’ meeting, according to WISI, confirming the successful conclusion of the reorganisation proceedings initiated in April 2024.
The restructuring measures taken in these proceedings were crucial to improve the competitiveness, stresses WISI. The company-wide reorganisation presents a significant challenge for all stakeholders, particularly the workforce and the organisation as a whole, according to the company, adding that the swift conclusion of the proceedings is therefore a positive outcome.
WISI Communications will continue to operate without any restrictions. Regular business operations will resume at the end of October 2024.