The German battery maker says production continues and staff will be paid, but a structural hole in its finances and the loss of a major customer have forced its hand.
The parent company behind the Varta household battery brand said on Friday it has applied to the Stuttgart Local Court to open insolvency proceedings under self-administration.
The Ellwangen-based manufacturer was clear about the reasoning: this is not a case of bills going unpaid. The filing was triggered by a structural funding gap the company expects from 2027 onwards.
Varta pointed to market conditions deteriorating sharply, softer demand, unfavourable exchange rates and, most recently, what it described as a key customer deciding to end the partnership. Reuters and German media reports identify that customer as Apple, which has reportedly moved its sourcing of rechargeable CoinPower button cells for AirPods to China.
Chief executive Michael Ostermann acknowledged the company has been through a difficult stretch. He said the executive board and management are conscious of their responsibility to employees, customers, suppliers and investors, and are working to save as many jobs as they can while securing the company’s long-term viability and the best available outcome for everyone with a stake in it.
Varta has been privately held since March 2025, when it delisted from the Frankfurt and Vienna exchanges as part of an earlier restructuring plan. That restructuring was declared finished in April 2025.
Reuters also reported that Varta’s shareholders, among them sports car maker Porsche AG and Austrian investor Michael Tojner, had refused to put in more money.
What the proceedings cover
Production is carrying on and wages and salaries will continue to be paid.
The profitable household battery arm, Varta Consumer Batteries, sits outside the proceedings as a legally separate entity. Three operating subsidiaries are included through separate applications filed alongside the parent company: Varta Microbattery, Varta Micro Production and Varta Storage.
Ostermann described energy storage as a market with a future for the business.
The Stuttgart Local Court has appointed Tobias Wahl, a lawyer with restructuring firm Anchor, as provisional supervisor. Self-administration leaves Varta’s management running the company, with Wahl overseeing the process on behalf of creditors.
