Windreich subsidiary files for insolvency

GERMANY: Project development company WKU, a subsidiary of offshore German business Windreich, has filled for insolvency at the local court in Esslingen, Germany.

WKU has filed for insolvency
WKU has filed for insolvency

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WKU held significant claims against Windreich that could not be met, which comes after Windreich filed for insolvency last week.

New Windreich managing director Werner Heer said: "Given the close connection of these two companies this was a logical step.

"With this measure, we can create more certainty with respect to the ongoing offshore projects for our investors. The offshore project I MEG continues without limitation."

WKU employs 31 people in Wolfschlugen and Hamburg.

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