Inapa Germany files for insolvency

This is according to a statement from the Portuguese parent company Inapa - Investimentos, Participações e Gestão, S.A. (Inapa IPG). According to the company, it was not possible to find a financing solution for this liquidity bottleneck of EUR 12 million within the period stipulated by German law.

In view of the immediate impact that the insolvency of Inapa Germany will have on Inapa IPG, the Board of Directors of Inapa IPG has come to the conclusion that Inapa IPG is consequently and immediately insolvent. The parent company will therefore apply for insolvency proceedings under Portuguese law, which will be formalized in the next few days.