Another major factory declared bankruptcy!

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August 27 news, Europe's leading semiconductor chip maker BelGaN filed for bankruptcy at the end of July, the company's headquarters in Oudenaarde, East Flanders, Belgium, about 440 employees face unemployment.

BelGaN, a gallium nitride (GaN) semiconductor foundry in Oudenaarde, East Flanders, Belgium, recently announced that it had filed for bankruptcy and that 440 employees were facing unemployment. The company has more than 30 years of experience in automotive semiconductor production and has made significant advances in GaN technology.

The company had taken over from Onsemi the production and R&D facilities for silicon and gallium nitride (GaN) chip technology in Oudenaarde. However, investments in future-proof technology did not bring the company success and, above all, there was insufficient cash flow, so BelGaN had to file for bankruptcy.

Originally founded in 1983 as MIETEC, BelGaN began focusing on gallium nitride technology in 2009 after a number of acquisitions and reorganizations. Despite the company's technical success, its commercialization process suffered from financial difficulties. The company was unsuccessful in finding additional investments, resulting in cash flow shortages. At the same time, global supply chain constraints and geopolitical factors exacerbated its operational pressures, ultimately causing the company to file for bankruptcy protection.

Despite BelgaN's technological achievements, its commercialisation process suffered from financial difficulties. The company's unsuccessful search for additional investment led to cash flow shortages, which, combined with global supply chain tensions and geopolitical influences, exacerbated operational pressures and ultimately necessitated a Chapter 11 filing.

BelGaN has now received bids from a number of potential acquirers, including an offer of around €130 million from a Swedish-Finnish consortium in the name of 7 Semiconductors Oy.

In addition, Guido Dumarey, the former owner of BelGaN and a Belgian entrepreneur, has also shown interest in buying, although the exact bid has not been disclosed.

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