Kiekert investor remains committed to supplier

Locking Systems Kiekert Insolvency: Chinese Investor Remains Committed to Supplier

2025-10-02 Updated on 2025-10-02 Source: dpa 2 min Reading Time

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In September, Kiekert filed for insolvency and primarily blamed a Chinese investor. That investor has now spoken out.

The Chinese investor of the locking systems supplier Kiekert remains committed to the company.(Image: Kiekert) — The Chinese investor of the locking systems supplier Kiekert remains committed to the company.
(Image: Kiekert)

The Chinese automotive supplier Lingyun intends to remain the owner of the car lock manufacturer Kiekert. Last week, provisional insolvency proceedings were initiated for Kiekert. "Lingyun intends to retain Kiekert AG as well as Kiekert Holding GmbH, to avoid the reasons for insolvency, and to ensure that all insolvency creditors are satisfied," the Chinese company stated.

Lingyun was "completely" surprised by the insolvency filings. The company learned about them from the media. The *Wirtschaftswoche* refers to statements from those involved, stating that top managers of Kiekert's shareholder Lingyun have traveled to Germany to represent their position on-site.

Financial Distress Due to Missing Payments

The Wuppertal District Court ordered preliminary insolvency proceedings a week ago. The insolvency is the result of "the Chinese shareholder not providing further funds and failing to meet its financial obligations in the triple-digit million range," Kiekert announced. "The shareholder affected by sanctions denies us access to important markets and financing, which significantly endangers our business operations," Kiekert CEO Jérôme Debreu explained.

The management's goal is the withdrawal of the Chinese shareholder. This is crucial to accelerating growth and continuing Kiekert's 168-year history as a systemic supplier to the automotive industry.

Lingyun: "Always Been Proud of Kiekert"

Lingyun now stated: "Kiekert remains a traditional German company that we have always been proud of." The company aims to avert damage to creditors, provide liquidity, eliminate the reasons for insolvency, and secure Kiekert's long-term future. Lingyun has made its intentions clear to the court, the preliminary insolvency administrator, and key creditors, among others.

Kiekert reported a week ago that business operations at all locations are continuing. According to the company, the wages and salaries of the 700 employees in Germany are secured through insolvency payments until the end of November. The foreign subsidiaries of Kiekert AG in Europe, Asia, and North America are not affected by the proceedings. According to the company, Kiekert is the global market leader in automotive locking systems. The supplier employs 4,500 people. Lingyun acquired the company in 2012.

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