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The parent company behind the renowned Varta household battery brand said on Friday that it had applied to the Stuttgart Local Court to open insolvency proceedings under self-administration.
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The German battery maker, based in Ellwangen, said the filing was prompted by a structural funding gap expected from 2027, rather than an immediate inability to meet its payment obligations.
The company cited significantly worsening market conditions, weaker demand, adverse exchange-rate movements and, most recently, “the decision of a key customer to terminate the partnership” as factors affecting its operations.
According to Reuters and German media reports, the key customer is Apple, which has reportedly decided to source rechargeable CoinPower button cells for its AirPods from China.
Chief executive Michael Ostermann said: “VARTA AG has faced significant challenges in recent quarters. We on the Executive Board and in management are fully aware of our overall responsibility to employees, customers, suppliers, and investors, and are working with all our strength to preserve as many jobs as possible, ensure the company’s continued sustainability, and create the best possible prospects for all stakeholders.”
Varta is a privately held company, following its delisting from the stock exchanges in Frankfurt and Vienna in March 2025, as part of an earlier restructuring plan. The restructuring was declared complete in April 2025.
Reuters also reported that Varta’s shareholders, including sports car maker Porsche AG and Austrian investor Michael Tojner, had declined to provide the struggling company with additional funding.
Which parts of the business are affected?
Varta said production would continue and employees would keep receiving their wages and salaries.
The profitable household battery business, Varta Consumer Batteries, is legally separate and excluded from the proceedings. However, three operating subsidiaries are covered by separate applications alongside the parent company: Varta Microbattery, Varta Micro Production and Varta Storage.
The CEO said that the energy storage market remains a future-oriented industry for the company.
The Stuttgart Local Court appointed Tobias Wahl, a lawyer with restructuring firm Anchor, as provisional supervisor. Under self-administration, Varta’s management remains in control of the company while Wahl oversees the proceedings on behalf of creditors.
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