⏱ 1 min 30 read
Background
Leclanché makes batteries in Yverdon-les-Bains (VD). In mid-October 2026, the company narrowly managed to cover two months of wages in arrears, according to Le Temps. It was its second major cash crisis in less than a year, after the one in January.
The key points
According to L'Agefi, Leclanché is giving itself “until the end of November” to find a solution. A few days earlier, the same newspaper reported a need for CHF 50 million.
Le Temps describes a deadlock. Demand is strong and investors are reportedly ready to finance growth. But the company is 95 % owned by a single fund, Luxembourg-based SEF-LUX. Behind it is the Geneva family office Golden Partner.
This structure, the result of years of convertible loans, prevents new investors from coming in, according to Le Temps. The majority shareholder once again covered the emergency in October.
Key figures
- CHF 50 million : financing need, according to L'Agefi
- 95 % : share of capital held by the SEF-LUX fund
- 330 : employees, compared with 400 two years ago
- 170 : jobs in Yverdon, and 140 in Germany
What it means for businesses
- Employees : 170 jobs are at stake in Yverdon, out of 330 in total.
- Investors : the current shareholder structure blocks any new equity investment, according to Le Temps.
Who says what
- Pierre Blanc (CEO of Leclanché): a major commercial milestone has been reached and break-even is within reach.
- Pierre Blanc, quoted by Le Temps: his competitors receive massive state support, while in Switzerland “there is no help at all”.
What's next
- A financing solution must be found by the end of November 2026, according to L'Agefi.
