Elsa tries to avert bankruptcy
After seven banks terminated the loans for Elsa amounting to 28 million euros on Friday, the graphics card manufacturer is still trying to avert the impending bankruptcy. That's why Elsa is currently negotiating with the seven banks and is looking for other donors who should avert the bankruptcy proceedings.
According to a spokesman for Elsa, the order books are full, but at the moment the company simply lacks the money Implement orders too. Spokesman Sven Heyden commented on the financial problems of Elsa as follows: 'We ran into a classic financing trap'. Elsa only got into this financing trap because of the long payment deadlines in international business and the short life of the products on offer. Overall, the need for financing has increased significantly, since supplier credits are only granted in exceptional cases. Elsa currently employs 480 people, 350 of them at the headquarters in Aachen.