Batteries: Varta files for bankruptcy – Apple's departure takes its toll
3 hours ago
- Varta filed for bankruptcy after losing Apple as its main client to Chinese manufacturers.
- The German battery manufacturer faces heavy debt and declining manufacturing sector challenges.
- Apple's decision to outsource AirPod battery production led to a factory closure in Nördlingen, Germany.
- Creditors demanded loan repayment, and investors refused further capital support, worsening the crisis.