German corporate insolvency filings

In August 2026, multiple German companies filed for insolvency proceedings under self-administration.

Pandion AG, a Cologne-based real estate developer, filed due to a liquidity crisis. The filing impacts the parent company and five subsidiaries involved in real estate, sales, design, project management, and engineering. The group manages approximately 3,800 residential units and 200,000 square meters of office space across Germany, with project sales exceeding 4.8 billion euros. While the company intends to continue operations through restructuring, approximately 160 employees face uncertainty. Wages are reportedly secured through insolvency money pre-financing from the Federal Employment Agency.

Simultaneously, the building technology company Thor-Gruppe applied for insolvency for several subsidiaries, including Thor Industriemontagen GmbH. This affects roughly 800 employees across locations in Thuringia and Hamburg. Management cited rising fuel costs, high interest rates, and investment uncertainties as the primary drivers of their financial difficulties. The Thor-Gruppe intends to continue business operations to complete ongoing projects.