11 November 2015
Denmark - Following the news last week that lighting manufacturer SGM had filed for bankruptcy, the company has announced that it has "restructured" with "further investments".
"To maintain SGM as the absolute leader of intelligent LED light, further investments were needed. After a period of disagreement between shareholders about the future capital structure, the board of directors had no other option than to apply for a proceeding aiming to restructure the company. On 9 November at 18:00, SGM was completely re-established with its new shareholder and capital. The management ascertains that SGM will continue as before without any changes - and stronger than ever."
The company says that all elements of its business remain unchanged, and that the entire team, the worldwide distributor network and all warranty commitments remain identical to before the restructure.