Troubling times for Fanatec: the parent company of the SimRacing giant, Endor, has initiated insolvency proceedings.
Fanatec remains a major player in SimRacing, but the situation has become dire: the German company that owns the brand, Endor AG, has started insolvency proceedings, as reported by GTPlanet. This dramatic turn of events follows months of turbulence, beginning with a chaotic Black Friday and culminating in the dismissal of founder and CEO Thomas Jackermeier at the request of creditors.
After Jackermeier’s dismissal, Endor attempted to stabilize by appointing Andrés Ruff as CEO and initiating a restructuring process under the German StaRUG law. This process was intended to partially reduce the debt but ultimately failed due to internal complications and unsuccessful negotiations with major shareholders.
Now, the situation is precarious: Fanatec faces insolvency, with bridge financing from Corsair interrupted and banks reluctant to provide further funds.
For consumers, despite the challenges, daily operations such as sales, warranties, and software updates will continue for the time being. Ruff remains optimistic, stating that the company will work hard to reorganize and hopes to emerge stronger from this crisis.
Photo: Fanatec
