Germany’s SD Reifen in liquidation

Tyre distributor SD Reifen GmbH recently went into liquidation, which means its business activities will officially end in autumn 2024. Bernd Schwarz, company shareholder and managing director of the German firm since its founding almost eight years ago, has been appointed to the role of liquidator.

Explaining the factors leading to liquidation, SD Reifen says it has “faced a number of challenges” in recent years, including higher operating expenses and increased tax obligations, as well as the need for new and expensive IT infrastructure. The Covid-19 pandemic and a “generally tense and volatile economic situation” have also caused sales to decline. One further issue making it “impossible for the company to operate successfully” is a lack of qualified staff in the region.