German high-end consumer electronics maker Loewe is in trouble again. Today the company filed for debt protection to avoid bankruptcy.
A couple years ago German TV maker Loewe was already almost gone because they missed the flatscreen TV trend. Sharp was stepping as an investor and also supplies the panels. Loewe never really was able to turn things around despite putting out some great products. Now the company is close to bankruptcy and has filed for creditor protection. This protection gives Loewe three months time to reorganize and get fresh financing.
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Loewe got some unwanted publicity in the last couple months from rumors that Apple would buy them.
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More details on Bloomberg.