Swiss energy storage group Leclanché has filed a “precautionary” insolvency application for its two German subsidiaries, Leclanché GmbH and Leclanché Services GmbH, saying both units faced a cash shortfall.

The move, announced on September 23, follows months of financial uncertainty across the group — which has already been told by regulators to publish its long-delayed annual report for 2025 by September 30 (today) at the latest.

Leclanché said the insolvency application, made under the German Insolvency Code, was in response to the “illiquidity situations” of both subsidiaries.

“The insolvency petition was filed purely as a precautionary measure, as it has not yet been possible to secure further funding for the companies in good time.

“Should funding be obtained at short notice and the grounds for insolvency be resolved as a result, it may be possible to withdraw the insolvency application. This would allow the company to continue its operations without the constraints of formal insolvency proceedings.”

Leclanché said it continues to have discussions with customers that have indicated a willingness to provide further support, as well as with strategic partners and potential investors.

The group said its customer order book remains strong and has grown in recent months. However, Leclanché said it continues to face significant short-term financing, cash and production-capacity constraints.

Trading in the group’s shares remains suspended following a September 10 decision by SIX Exchange Regulation, which regulates and monitors exchange participants and issuers on the Swiss Stock Exchange.

Leclanché told SIX previously it needed more time to demonstrate it was a going concern, at least until June 2027.