Traction providers Retrack Slovakia and its Czech subsidiary Retrack Czechia are filing for insolvency. German rail company VTG, which is the parent company of Retrack Slovakia, became its sole owner only in January 2025.
VTG says that it supported Retrack Slovakia financially in order to restore its financial health. “However, due to the persistently challenging traction market conditions in Eastern Europe, the economic outlook for Retrack Slovakia s.r.o. further materially deteriorated during the first months of this year”, says VTG. “Despite VTG’s intensive efforts, it became clear that a long-term restructuring of the company would not be economically viable under the current circumstances.”
And so, the end is nigh for Retrack Slovakia and its Czech subsidiary Retrack Czechia. VTG became the sole owner of the Slovak company in January, after Rail Services Slovakia sold a 40% stake in the company due to persistent financial problems. The German company has given financial support to its subsidiaries to get them back on track, but it was not sufficient to restore their financial health.