German wind turbine tower and foundation manufacturer Ambau has filed for bankruptcy.
Insolvency proceedings have begun in the Cuxhaven district court, according to German legal firm Gorg, which has been appointed administrator.
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The reasons for Ambau entering insolvency are still under review, Gorg partner Gerrit Holzle told reNEWS.
The company currently employs 350 people at locations in Cuxhaven, a coastal town in northern Germany, and Grafenhainichen.
A search for investors in the company and its assets has already started, the law firm said.
The wages and salaries of Ambau employees are secured by bankruptcy funding for an initial three months, the firm added.