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One of the sponsors for the Bundesliga club VfB Stuttgart is apparently insolvent. New jerseys have been available to buy for some time now.
Stuttgart – Germany is currently experiencing a wave of bankruptcies. There have not been as many bankruptcies since 2010 as in the current year 2024. An operator of a ski lift went bankrupt before the start of the season, as did a traditional company from Lusatia and a traditional engine manufacturer.
Now the wave of bankruptcies is also affecting a company that is involved with the Bundesliga. The start-up Q-nnect opened insolvency proceedings on September 16th.
Q-nnect is insolvent: VfB Stuttgart is getting new jerseys for training
Lawyer Steffen Rauschenbusch from Mannheim was appointed as the provisional insolvency administrator, as stated in the announcement of the insolvency application. Since the bankruptcy of Q-nnect there is also new training clothing for VfB Stuttgart – there the start-up was considered a “premium partner”. In the summer of 2023, the company proudly announced: “As a leading provider of innovative software and IT solutions in the composable enterprise sector, we are convinced that this collaboration is a perfect opportunity to share our values and our commitment to innovation with sport combine.”
“In VfB Stuttgart we have found a partner who shares our values. Our presence on the training clothes and in the VfB youth stands for hard work, team spirit and creativity,” said the company’s founder and CEO, Mattias Progscha, at the time.
VfB coach Nathaniel Weiss with the Swabians’ old training jersey. © IMAGO/ULMER
While the name Q-nnect was emblazoned on the Bundesliga teams’ training clothing under the Jako logo, it was the main sponsor of the youth jersey as a chest band. Now the jerseys seem to be gradually being replaced.
Sponsor of a Bundesliga team in bankruptcy: bankruptcies at an all-time high
Recently, the number of company bankruptcies had risen to an all-time high. According to the Leibniz Institute for Economic Research in Halle (IWH), the Federal Republic recorded around 4,000 insolvencies of partnerships and corporations in the third quarter of 2024. The last time there were so many bankruptcies was in the second quarter of 2010. At that time it was due to the aftermath of the financial and economic crisis of 2008/2009.
The management consultancy Falkensteg is also following this worrying trend in insolvencies in Germany. “The second half of the year promises a storm of company bankruptcies. “Especially since the second half of the year shows increasingly higher case numbers,” predicts the restructuring expert and partner at Falkensteg, Jonas Eckhardt.
