The Berlin-based company filed for protection from its creditors under German planned insolvency laws on Monday.
Sill has been in difficulties since the start of the year, and has been negotiating with its banks to continue trading. It now has three months to resolve the situation, which could involve new investors or an outright sale.
‘I can confirm that Franz Sill has gone into planned insolvency,’ Bob Bohannon of Sill UK told Lux Review. ‘As far as the UK division is concerned, at the moment it’s business as usual. The [insolvency] practitioners have told us to continue as normal.’
It’s understood that Sill, despite its strength in exterior projectors for architectural applications, has struggled to make the transition from traditional sources to LEDs, and product development has failed to keep pace with changes in the market.
Sill was founded in 1954 as Fuchs & Sill by Werner Fuchs and Franz Sill. The latter took over the company and drove its growth but died in 1990.