Varta files for insolvency proceedings at Stuttgart court (heise.de)

• Varta files for insolvency in self-administration
• Apple withdrawal cited as major cause
• Creditors see no solution; household battery unit excluded

"German battery maker Varta filed for insolvency proceedings in self-administration at Stuttgart district court. The company cited deteriorating market conditions, weaker demand, negative currency effects, and the loss of Apple as a key customer. Household batteries are not affected. Major creditors see no viable solution. Varta aims to secure its future through the process."