Clash Report
@ClashReport
German battery maker Varta AG filed for insolvency along with three subsidiaries after shareholders Porsche and Michael Tojner refused to inject fresh capital.
It's the company's second collapse in under two years.
The killer blow came in May when Apple dropped Varta as its AirPods battery supplier for cheaper Chinese ones, forcing the Nördlingen plant to close and 350 jobs to go.
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