Holophane enters insolvency after energy costs rise by 250%

French automotive glass manufacturer Holophane has requested to enter receivership after a spike in energy costs.

Its energy costs will be 250% higher this year.

It will be €10.5 million this year compared to an average of €3 million over the past three years.

The glassworks based in Andelys, Normandy, France specialises in the production of automotive fog lights and optics.

It also said demand for automotive lighting had declined in recent years in favour of plastic, which enables lighter vehicles.

By being in receivership the company can protect creditors as well as possible while continuing to look for a buyer.

According to the receivership notice, it has 241 employees at the facility.