The global economic crisis has also hit a Germany-based automotive giant.
In the face of severe economic difficulties affecting the globe, companies in many regions of the US and Europe are shutting down. Most recently, the Germany-based automotive parts supplier Federnfabrik Erwin Lutz announced that it has declared bankruptcy.
THEY HAD FILED FOR BANKRUPTCY
According to the report in Ekonomim, the automotive supplier Federnfabrik Erwin Lutz, which operates in Eningen unter Achalm near Reutlingen in the state of Baden-Württemberg, has gone bankrupt.
As reported by several media outlets, the company filed for bankruptcy at the local court in Tübingen on August 9. Jürgen Sulz, a lawyer from Reutlingen, has been appointed as the provisional insolvency administrator.
News Source: 12punto
