Native Instruments’ CEO has issued a statement following news that the music tech company has entered full insolvency proceedings.
Sharing a statement via the company’s blog yesterday, CEO Nick Williams explained that Native Instruments will now transition “from ‘preliminary insolvency’ into formal ‘insolvency’ proceedings where applicable”.
“As part of the restructuring process, Native Instruments GmbH and a number of our German entities will shortly be moving through expected legal steps,” he said.
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It follows initial news shared by Create Digital Music (CDM) in January that the Berlin-based company had entered preliminary insolvency, meaning that its…