Endor AG files for insolvency.
Dominic Brennan
Member, Administrator
Dear Sim Racers,
Today, we find ourselves at a crucial juncture in our journey, and we want to share some important news with you. Endor AG has filed for insolvency with the Landshut Local Court due to financial difficulties that have become insurmountable despite our best efforts. Endor AG’s foreign companies are not affected by the application for insolvency. The full press release can be read here: https://endor.ag/2024/07/30/endor-ag-files-for-insolvency-2/?lang=en
Firstly, we want to reassure you that our operations will continue as usual. Sales and customer support will remain uninterrupted, and our commitment to delivering top-quality products will not waver. The restructuring process is designed to streamline our operations and set the stage for a stronger, more resilient future.
The insolvency proceedings are a necessary step to address our financial issues and reorganise our business. Our outlook for the future remains bright. The strength of our outstanding team with a passion for sim racing, coupled with the loyalty of our customers and partners, has been crucial to our success. We believe that with their support and the lessons learned from this experience, we will overcome these challenges and continue to thrive.
We also remain optimistic about securing a suitable investor during the insolvency process. Additionally, we believe that CORSAIR remains interested in acquiring Endor AG.
Andres Ruff, CEO of Endor, said: ‘We would like to thank our customers, employees and business partners for their trust and support over the past months. As part of the insolvency proceedings, we will continue the restructuring and work at full speed to reorganise the company. We are confident that we will emerge stronger from this situation and return to a sustainable, profitable growth path."
Sincerely,
The Endor AG Team
Comments
The collapse of a top company in sim racing is truly sad. As a player, all I hope for is that my current equipments continue to function well, that game developers continue to support Fanatec's products in their games, and that FullForce support is implemented. In the end, I can only hope that you can overcome these difficulties and have a chance to continue making products we once loved.
Wow. Amazing management. First forcing out the CEO and the deliberately driving the company towards bankruptcy to make it as easy as possible for Corsair to take it. Guess that failed a bit.
Great job. /s
Endor/Fanatec management did not force out Jackermeier. The banks they have their loans through did that as part of the deal they made to Endor when Endor was failing to make the loan payments as promised to the banks...........
The company was already heading towards bankruptcy before all this started, Endor did not need to force anything.
I think Mr. Jackermeier is doing what he can to kill all of this out of spite. "If I cannot have the company I started and ran, then no one will........".
Regardless of how they got there, or who you side with, after the StaRUG process failed, this is obvious move by the current mgmt team in the current battle between the two factions. Once Corsair would not get the outcome it wanted from StaRUG, they withdrew, and current lenders won’t continue as is w/o the current mgmt having clear control. Still more to come - this is not the end, just another tactical move
I would like to just understand when I can expect to hear back from Fanatec on my brand new Gran Turismo DD Extreme that I have only played 3 hours and that has bricked itself... I did raise the ticket on the website, no acknowledgement or nothing! Now this news! Looks like my £1,350 just went down the drain... What a scam... Shame because I genuinely loved their products, until now, when I get to experience the very extreme opposite of the quality I was expecting...
Ohne Herr Jackermeier ohne mich ! fertig
don't be pessimist. im sure there are people in world who can fix your device like CORSAIR who technically kind off own fanatec self already.
if you not notice this fanatec brand patents belongs to CORSAIR
Endor AG not closed his doors yet tho. they customers support speed is slow. as you are not only one who have issues
also they just released CSL DD with QR2
it does not look like fanatec have plans close doors self
if fanatec wants to really make some money, they should release a new set of force enabled podium pedals! All these wheels are great, but its the pedals which are long in the tooth!
i think currently its very difficult situation. but we may see in future new products as i'm assuming Crosair does want make profit like other Sim gear companies
i think what may happen first is that they release Bentley steering wheel, and maybe also some other products what fanatec already made
TJ. does talk something about "Landshuter" i quess its a german game center where sim racers comes and play ?
it does may little affect in future the Crosair tho because if you not have sim fanats then who you sell product anyway?
i can be wrong tho in here as i not know nothing about that "Landshuter"
Landshut is the town where the company located.
This company have an incredible product. However where they struggle is their ability to have a functional and user friendly website, a lack of clear and concise information about their products, a lack of customer services, poorly designed deal packages, and shockingly poor support outside of PC. Lack of understanding about import charges and global shipping. They seem to just be shipping units not selling the products.
I sincerely hope that Fanatec survives this...
Jason Bradley
how it looks to me is that fanatec been difficulties some time now. they not have recurses for bigger customer support and they todo they best what they currently have
I just hope I can get my RMA done, spent over $2000 and last week received my shipping and my base needs to be replaced.
Same here buddy but would prefer my base to actually work to be honest :/
Good luck. I have support request and RMA not far from 4months now both. Don't think I will get response/resolution.
Where are you from? US?
Yes, Canada. US region
I just got my RMA label yesterday and shipped it. Now let's see how long it will take to get my base back.
That’s good to hear that at least very very few customers can confirm they got an answer from the support and even got a RMA label.
Customer service in JP region has been quite well actually. Response usually within 3 days or even 12 hours. I recently did an RMA and the whole process (from creating the ticket to receiving the repaired unit) cost only about 8 days. Pretty impressive.
I need to uninstall and reinstall the program on my podium DD1 that I purchased in 2020.
It's been discontinued.
Is it possible to get access to the proper download, or do I now have very expensive paper weight?
https://www.fanatec.com/driver