Loewe’s struggles are well documented. They sought bankruptcy protection in July, and later in July they entered into a strategic partnership with Chinese Hisense. Loewe is going through self-administered insolvency, but a secret investor has made a written offer to buy Loewe, the company has reported.
Secret investor wants to buy Loewe
An investor has made a specific written offer to buy the German manufacturer Loewe that is fighting to stay afloat. The investor wants to buy all business operations with long-term support, but wishes to remain secret for now. Loewe will now consider the offer, but says that more investors have expressed interest.
Loewe’s cheaper Art TVs is an element of the turnaround plan
- “The fact that an investor has committed itself to buying Loewe underscores the attractiveness of the premium Loewe brand and the company as a whole,” said Executive Board Chairman Matthias Harsch, - “This means we have reached a crucial milestone that will put Loewe firmly back on track for success.”
The restructuring of Loewe is going according to plan, and it seems that Loewe could return to compete in the TV and the audio markets – but in what form? That remains unclear at the moment, but we do know that Loewe intends to release cheaper TVs.