The whole company - an engineering firm - filed for insolvency. Restructuring and reorganisation attempts failed, and the parent company filed for insolvency in September 2015; Imtech Germany filed in August, and Imtech UK is continuing to reduce in size. The Marine and Nordic divisions are set to be sold to private investors. This follows a major accounting scandal from 2013 in the company's German and Polish divisions, which has resulted in a turbulent two years financially. Jobs that remain will fall under the remit of new owners on a division-by-division basis. Two Belgian divisions - Imtech Belgium Holding N.V. and Imtech België B.V. - have been bought out by Dutch based Cordeel Group, which Imtech Nordic has been purchased by Parcom Capital and Pon Holdings.