The creditor protection association KSV1870 and Creditreform reported this in their broadcasts on Wednesday. The insolvency application cites massive drops in sales due to the corona pandemic as the main cause of the insolvency, with an increase only being seen once more in 2024. On the other hand, the company cites the massive increases in energy costs, employee costs and cost of goods sold as a result of the energy crisis in the same period as the reason.
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According to the company’s own application, 42 creditors, including 21 employees, are affected by the insolvency with a total amount of 231,100 euros. In contrast, there are said to be around 72,000 euros in assets. The plan is to finance a restructuring from the continuation and exploitation proceeds as well as the operating profit. Your own information on assets and liabilities will now be checked by the insolvency administration.
Creditors are offered a restructuring plan quota of 20 percent, payable within two years.
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