Kettler, based in Germany's and best known for its Kettcar carts for kids, has filed for insolvency. It also makes leisure and sports equipment ranging from ping pong tables
to patio furniture, children's swing sets and exercise bicycles.

The bankruptcy filing was made at a district court in Arnsberg. According to a report in Reuters, the privately-held company said on Wednesday the move had become necessary “to avoid a hostile takeover and realign the company.”

Christoph Schulte-Kaubruegger of law firm White & Case has been named provisional trustee for Kettler, a court filing dated Tuesday showed.

The Reuters article is here.