Now Sono Motors wants to restructure itself in a protective shield procedure because of over-indebtedness and impending insolvency. The procedure had been registered with the district court in Munich, according to Sono. The contaminated sites from the Sion program are too high to deal with on your own, said restructuring expert Dirk Schoene from the Dentons law firm, who is accompanying Soni in the process.
The management was confident that the restructuring would succeed. “Detours are part of founding a company,” said co-founder and managing director Jona Christians. Shareholders are also among the losers. With the protective shield procedure, the parent company Sono Group, which is listed on the US technology exchange Nasdaq, loses access to its only operating subsidiary.