BSH has filed for insolvency over over-indebtedness and impending insolvency amid a difficult situation in the solar industry
Its operations will continue, with about 80 employees remaining; salaries are being secured through insolvency benefits
Insolvency administrator Anchor says the company is seeking a new investor
BSH GmbH & Co. KG is the latest solar energy company in Germany to have filed for insolvency proceedings. The company, based in Bad Königshofen, filed the application with the Schweinfurt Local Court. The business will continue to operate while a restructuring solution is explored.
The court appointed lawyer Dr. Alexander Zarzitzky of Anchor Rechtsanwaltsgesellschaft mbH as the provisional insolvency administrator.
BSH cites over-indebtedness and ‘impending insolvency’, amid a ‘difficult’ general situation in the solar industry, as the reasons for the decision. It is now exploring a long-term restructuring strategy.
Established in 2009, BSH is in the business of sales, installation, and maintenance of solar PV systems with battery storage. It also offers heat pumps, wallboxes, energy management systems (EMS), and electricity tariff services. According to Anchor, BSH focused significantly on products from SENEC GmbH.
During its growth phase, Anchor says the company expanded rapidly and had an average workforce of 153 employees in 2025 ‘before changing market conditions necessitated an initial restructuring’.
Now, preparations are underway to pre-finance insolvency benefits to help secure wages for the approximately 80 remaining employees. The salaries for August were paid as usual.
Anchor said the reasons behind the insolvency are multiple. BSH experienced a noticeable decline in demand from private customers as early as 2024. The company had previously developed and validated a restructuring plan in 2025 that included workforce reductions and lower fixed costs. However, the measures did not lead to the desired effect. The company's balance sheet was also affected by losses on receivables from insolvent subsidiaries.
Meanwhile, BSH will continue operating the business while the provisional administrator reviews its financial position and holds initial discussions with business partners.
“We are currently working with the team to gain a detailed overview of the situation. Maintaining ongoing operations and ensuring continued salary payments are our top priorities,” Zarzitzky said.
The administrator is also reviewing BSH's order book. BSH plans to contact customers in coordination with the administrator to determine how many planned projects can continue and be completed.
As part of its restructuring plans, BSH is now seeking an investor. “The general situation in the solar industry is currently known to be difficult,” said Zarzitzky. He added that the focus is on finding investors that see potential in BSH and are willing to develop the business with its employees.
Very recently, leading German solar and storage firm ENERPARC filed for insolvency proceedings despite raising up to €1 billion in financing earlier this year (see Germany’s ENERPARC AG Files For Insolvency In Hamburg).
