Press Releases

As was hoped, LOOPING GROUP is in a position to announce a new strong partner in time for the opening of insolvency proceedings. Isartal Health Media, a subsidiary of the Wort & Bild publishing group, is to join as a shareholder, thereby securing the communications agency’s future. The current shareholders will remain on board.

Insolvency administrator Mr Michael Wahl from PLUTA Rechtsanwalts GmbH yesterday signed a purchase agreement for Allgaier Process Technology GmbH. The new owner is STAFAG International GmbH based in Mülheim, the holding company for a medium-sized group that includes SIEBTECHNIK GmbH. This means the PLUTA team has succeeded in rescuing the company at the last minute, as the transaction had to be concluded prior to Christmas on financial grounds.

The Weltbild D2C Group is to acquire the KLiNGEL brand Vamos effective 31 January 2024. The intention behind this acquisition in the area of healthy footwear is to further expand the product offering under Weltbild’s Orbisana brand. This underscores the multichannel retailer’s increased commitment to the healthcare segment. Back in July, the group already purchased Groundies, a brand of barefoot shoes.

For KLiNGEL, this represents another successful brand transaction within its ongoing debtor-in-possession proceedings. KLiNGEL’s creditors’ committee has unanimously approved the transaction.

Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH, acting in his capacity as provisional insolvency administrator for Backsinfonie GmbH, has launched a process of finding an investor for the wholesale bakery. He is confident that a financially strong investor will be interested in preserving this business with its traditional approach and high standards.

Mr Stefan Conrads from PLUTA Rechtsanwalts GmbH, provisional insolvency administrator for Harenberg GmbH, is working with management to find an investor for the renowned publishing house. The company, which has been publishing the well-known buchreport magazine for more than 50 years, filed for insolvency due to liquidity problems.

devolo GmbH has initiated debtor-in-possession restructuring proceedings. The Aachen-based company is aiming to reposition itself for the future. Business operations are continuing without any restrictions. The supply of goods is guaranteed.

The KLiNGEL Group has announced a further sale as part of its debtor-in-possession proceedings: effective 1 February 2024, K - Mail Order GmbH & Co. KG will sell the well-known KLiNGEL brand to Bruno Bader GmbH + Co. KG. The purchase agreement has already been signed by the parties. The transaction includes not only the brand but also the associated customer addresses and domains and has already been approved by the creditors’ committee.

The creditors’ assembly unanimously approved today the insolvency plan in the windeln.de SE insolvency proceedings. Restructuring expert Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH had drawn up the plan in recent months together with attorney Mr Wolfgang Bernhardt and submitted it to the Local Court of Munich. The plan presented by the insolvency administrator in accordance with his right of submission under sentence 1 of section 218(1) of the German Insolvency Code (InsO) puts the creditors in a better position.

Trender Jeansmode GmbH & Co. KG based in Sindelfingen and 12 operating subsidiaries have filed for debtor-in-possession proceedings with the Local Court of Stuttgart. The court approved the application on 7 December 2023 and then ordered provisional debtor-in-possession proceedings for the group’s assets. Attorney Mr Steffen Beck from PLUTA Rechtsanwalts GmbH is supporting the repositioning in his capacity as chief restructuring officer (CRO). Attorney Dr Sebastian Mielke from law firm Menold Bezler in Stuttgart has been appointed provisional insolvency monitor to oversee the proceedings in the interests of the creditors.

While restructuring as a debtor in possession, M+W Messe- und Werbeservice GmbH will be advised on legal matters by law firm BBR Buchalik Brömmekamp Rechtsanwälte and on business issues by management consultancy plenovia. Both are based in Düsseldorf and will support the company during its provisional debtor-in-possession proceedings. M+W is aiming at continuing its restructuring within the framework of the debtor-in-possession proceedings now initiated. Management filed a corresponding application with the Local Court of Mannheim on 27 November 2023. The court approved the application, ordered provisional debtor-in-possession proceedings and appointed Ms Heike Metzger from PLUTA as provisional insolvency monitor.

Following the sale of HAPPYsize, the KLiNGEL Group will also sell the MIAMODA brand to the family-run Popken Fashion Group. The well-known investor will acquire the plus-size brand from K - Mail Order GmbH & Co. KG effective 1 January 2024.

Insolvency administrator Mr Florian A. Zistler from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor for the insolvent Urlbauer Haustechnik GmbH & Co. KG. With effect from today, the operations of the family-run business will pass to the well-known company BayWa Haustechnik GmbH. All remaining staff have been offered continued employment. In total, around 115 jobs within the group will be saved.

Restructuring expert Mr Christian Heim from PLUTA Rechtsanwalts GmbH has announced positive news in the insolvency proceedings for Mogensen GmbH & Co. KG, an Allgaier Group company. The Dülmen-based JOEST group, a global mechanical engineering firm for equipment for the bulk materials processing segment with over 1,000 employees, is to acquire Mogensen GmbH & Co KG in Wedel as well as the subsidiaries in Sweden and Spain – Frederik Mogensen AB in Hjo and Allgaier Mogensen S.A.U. in Madrid. All approx. 140 staff will be kept on and the sites in Germany and abroad will be maintained.

Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has submitted an insolvency plan to the Local Court of Munich in the proceedings for windeln.de SE. The plan, which has been authored by the insolvency administrator and presented in accordance with his right of submission under sentence 1 of section 218(1) of the German Insolvency Code (InsO), puts the debtor’s creditors on a better footing than would otherwise be the case.

In the insolvency proceedings for communications agency Olando GmbH, provisional administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has announced positive news: the agency is continuing to operate without restriction and to serve all clients and major customers. The company also signed an agreement to this effect with its main client this week. All services are being provided and customers can reliably access the company’s comprehensive offering at the usual level of quality.

Having kept the business operational for almost five years, insolvency administrator Dr Stephan Laubereau from PLUTA Rechtsanwalts GmbH has now sold Leihhaus in der Schillerstraße GmbH, a pawnbroker in Frankfurt, to a company that is a member of the Austrian Dorotheum Group. In these exceptional proceedings, the PLUTA team has managed to achieve an excellent outcome for the business, employees and creditors with this transaction.****

Limes-Apotheke, managed by Mr Boris Haluszczynski, a registered trader (e. K.), has made a positive announcement. Following the filing of an application to open debtor-in-possession insolvency proceedings in late August, those proceedings were successfully launched on 1 November 2023. Supported by attorneys from well-known law firm FNB in Aalen and experienced Ulm-based attorney Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as insolvency monitor, the pharmacy is now seeking to fully restructure itself financially.

Good news in the insolvency proceedings for temporary employment agency SUNTEC GmbH Industriedienstleistungen based in Porta Westfalica: the creditors’ assembly has approved the investor solution negotiated by insolvency administrator Dr André Wehner. Tempton Personaldienstleistungen GmbH will manage the business going forward. All 12 jobs have therefore been saved and the Porta Westfalica office will be maintained. Tempton has also already made its first investments at the location.

Workers’ welfare district association AWO OWL (Arbeiterwohlfahrt Bezirksverband Ostwestfalen-Lippe e.V.) filed for debtor-in-possession proceedings last month with the intention of adapting with the required speed to the considerable internal and external challenges it faces and equipping itself for the future.****

The sale of the individual KLiNGEL brands is proceeding. Effective 15 January 2024, K - Mail Order GmbH & Co. KG will sell its MONA brand to Bruno Bader GmbH + Co. KG. The parties involved have already signed the relevant agreement.

Insolvency administrator Mr Frank Mößle from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor solution for K-lar GmbH, having kept the company operational for months. Almost all of the employees working for the social media agency based in Hesse will be kept on. This means that the PLUTA team has achieved the best possible outcome in the proceedings.

The Herrenholzer Schinken group of companies based in Börger in the Emsland region of Germany plans to restructure itself under insolvency proceedings. The medium-sized family business specialising in the processing and sale of meat products filed a corresponding application with the competent insolvency court in early November. The Local Court of Meppen then ordered provisional insolvency administration for the group’s assets and appointed Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional administrator.

Progress is being made in the insolvency proceedings for communications agency Olando GmbH. After one week, provisional insolvency administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH is feeling positive at this initial stage.

After months of discussions and negotiations, insolvency administrator Mr Sebastian Laboga and his team at PLUTA Rechtsanwalts GmbH have succeeded in achieving a long-term solution for the transportation services under the CleverShuttle brand. Multiple subsidiaries of the insolvent company GHT Mobility GmbH had been operating over 20 on-demand transportation services in more than 45 German municipalities; these will be maintained going forward now that an agreement has been reached. Passengers will still be able to avail themselves of the services and some 750 jobs at the GHT subsidiaries have been saved.

Several Signa Sports United Group (SSU) companies have filed to open regular insolvency proceedings for their assets in recent days. SSU is a Berlin-based company that specialises in sports e-commerce, especially in the bike and tennis segments. Dr Christian Gerloff (law firm Gerloff Liebler, Munich) and Mr Stefan Meyer (PLUTA Rechtsanwalts GmbH) have been appointed provisional insolvency administrators. They have already been able to implement important measures designed to keep the businesses operating and take initial steps towards long-term solutions. Operating companies Tennis-Point and Internetstores remain up and running, and returns from orders placed prior to and since the applications for insolvency were filed are again being accepted.

Olando GmbH headquartered in Munich filed for insolvency in the past week. Following this, the Local Court of Munich ordered provisional insolvency proceedings and appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional administrator.

Creditors of Prolupin GmbH have approved the purchase agreement negotiated by insolvency administrator Mr Michael Bohnhoff from PLUTA Rechtsanwalts GmbH with the investor. The agreement provides for the acquisition of part of the food-tech company’s operations by a subsidiary of listed Wide Open Agriculture Limited, based in Australia, as part of an asset deal.

ABL, a medium-sized manufacturer of electrotechnical products, has achieved an investor solution under debtor-in-possession management. Wallbox, a listed company based in Barcelona offering electric vehicle (EV) charging and energy management solutions worldwide, announced yesterday that it is to take over ABL GmbH.

On 11 October 2023, creditors of the SKN media group, the long-established printing and publishing group based in Norden, East Frisia, unanimously approved the restructuring plans for all five group companies presented by management to the Local Court of Aurich, as the competent court. The plans had been prepared by management together with the restructuring agent Mr Markus Freitag, an attorney from law firm AndresPartner, and his team in consultation with the court-appointed insolvency monitor, attorney Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH.

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has achieved a solution for BCM tree nursery from Westerstede, Lower Saxony, having kept the long-established tree nursery operating for a year. The present owner Mr Christoph Marken will acquire BCM’s assets within the framework of a restructuring via insolvency plan; the financing agreement needed for this has been recently concluded. The business located in the Ammerland region will thus continue operating under the same name and producing nursery plants on over 65 hectares of land.

Meßner GmbH & Co. KG based in the Ostwestfalen-Lippe region is positioning itself for the future under debtor-in-possession proceedings. The company has filed a corresponding application, and the Local Court of Detmold approved provisional debtor-in-possession proceedings on 4 October 2023.

K - Mail Order GmbH & Co. KG is continuing to divest individual brands and has announced the sale of its HAPPYsize label. Effective 1 January 2024, the plus-size fashion brand will pass to a new investor, the Popken Fashion Group, which has prevailed in the sales process. The transaction encompasses the HAPPYsize brand as well as associated customer addresses and inventories.

With Finkl’s Erlebnis Motorrad GmbH based in Schwabmünchen having filed for insolvency, the Local Court of Augsburg, as the competent insolvency court, yesterday ordered provisional insolvency proceedings for the company’s assets. Restructuring expert Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH has been appointed provisional insolvency administrator.

Workers’ welfare district association Arbeiterwohlfahrt Bezirksverband Ostwestfalen-Lippe e.V. (AWO OWL) filed today for debtor-in-possession proceedings with the competent court, namely the Local Court of Bielefeld, which has approved the application.

The Local Court of Neuruppin has opened insolvency proceedings for the assets of Arbeiter-Samariter-Bund Kreisverband Uckermark e.V. (ASB Uckermark) in Prenzlau and appointed attorney Mr Sebastian Laboga from PLUTA Rechtsanwalts GmbH as insolvency administrator.****

A solution has been found in the in-court restructuring proceedings for druckpartner Druck- und Medienhaus GmbH.

Progress is being made in restructuring fashion retailer Rübsamen. The Local Court of Augsburg opened the debtor-in-possession proceedings for the three companies in the Rübsamen Group on 28 September 2023 as planned. These have been conducted as provisional insolvency proceedings under debtor-in-possession management to date.

A PLUTA M&A team has advised the C.F. Maier Group on the acquisition of Jaksche Kunststofftechnik GmbH, based in St. Andrä in Austria, and Jaksche Technology d.o.o., an affiliated production facility in Bosnia-Herzegovina. The business has been transferred as part of a share deal with retroactive effect from 1 January 2023.

The well-known Schäfer Group, made up of prefabricated house manufacturer Schäfer Fertighaus GmbH & Co. KG and timber construction company Holz-Bau Schäfer GmbH & Co. KG based in Nüdlingen near Bad Kissingen, Germany, has filed for insolvency. On 21 September 2023, the Local Court of Schweinfurt ordered provisional insolvency proceedings for the assets of both companies. Attorney Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has been appointed provisional administrator for Holz-Bau Schäfer. His PLUTA colleague Mr Christoph Wagner will act as provisional administrator for Schäfer Fertighaus.

Spilker GmbH intends to fundamentally restructure its operations and put itself back on a stable financial footing. An application for debtor-in-possession proceedings was filed for this purpose with the competent court, the Local Court of Detmold, on Friday, 8 September 2023.

The debtor-in-possession management team with Chief Restructuring Officer Mr Marcus Katholing and experts from PLUTA Rechtsanwalts GmbH under Mr Stefan Warmuth have achieved a 100% dividend for the eligible parties in respect of the C.F. Maier casting division. Helped by the exemplary engagement of the shareholders, this means that all claims have been satisfied.

The creditors of Gronau-based Alfred Reimer GmbH, a company specialising in the production of high-precision parts, have unanimously approved the restructuring plan submitted by management to the competent court, the Local Court of Münster. The plan has been prepared by management and Mr Markus Freitag, an attorney from law firm AndresPartner with extensive experience in restructuring projects, in consultation with the court-appointed insolvency monitor, attorney Dr Ria Brüninghoff from law firm PLUTA Rechtsanwalts GmbH.

K - Mail Order GmbH & Co. KG is to sell its BABISTA brand business to Vanderstorm Ventures GmbH & Co. KG effective 1 November 2023. The bid from Vanderstorm Ventures prevailed in the M&A process conducted by the debtor-in-possession management team. The purchase agreement was unanimously approved by the relevant bodies for the debtor-in-possession insolvency proceedings, especially the creditors’ committee appointed by the insolvency court, the Local Court of Karlsruhe.

Mr Hans-Günter Bayer, managing partner of FRIMO Innovative Technologies GmbH, and insolvency administrator Mr Stefan Meyer, a PLUTA partner, both had good news to announce: the investor will take on the vast majority of the employees under the solution agreed for the automotive supplier and is making decisive progress in negotiations with customers. Following the signing of the company acquisition agreement in June 2023, important requirements governing the agreement’s validity and implementation (‘closing conditions’) have been met in recent weeks. It is anticipated that all aspects of the transaction will be completed in full by late November 2023 or so.

The debtor-in-possession team has found an investor for e-cargo bike sharing provider sigo, a company with operations all across Germany. The newly established sigo green GmbH will acquire the business by way of an asset deal. All of the jobs have been saved. The parties have agreed not to disclose the purchase price of the transaction.

As part of insolvency administration for automotive supplier Allgaier, the PLUTA team has launched a process of finding an investor. On 1 September 2023, the Local Court of Göppingen opened the insolvency proceedings for the companies and appointed several PLUTA attorneys as insolvency administrators.

The Local Court of Munich opened debtor-in-possession proceedings for Sono Motors GmbH on 1 September 2023 as planned. The court has appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as insolvency monitor. The business will continue operating as usual within the framework of the opened debtor-in-possession proceedings.

The management board of tubesolar AG, acting with the approval of the provisional insolvency administrator, has decided that the company will cease trading as of 31 August 2023. Despite numerous discussions and intensive negotiations in an effort to find an investor during the process of opening insolvency proceedings, no agreement could be reached with interested parties regarding the acquisition of tubesolar AG’s business operations or significant assets. Accordingly, Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH, in his capacity as provisional insolvency administrator, has felt compelled to approve the company’s closure in order to avoid a potential diminution of the insolvency estate.

Good news for sales of local food from the Nuremberg Metropolitan Region: Mr Patrick Meyerle from PLUTA Rechtsanwalts GmbH has achieved a solution for HofladenBOX in his capacity as insolvency administrator. An investor will acquire the business operations and the some 20 employees effective 1 August 2023 by way of an asset deal. This means that customers can continue to place orders online via HofladenBOX for the products of over 60 farmers, small businesses and direct producers based in the Nuremberg-Fürth-Erlangen region.

Despite considerable efforts, it has not been possible to find an investor for the KLiNGEL Group as a whole. The group will continue operating until late January 2024, after which the multichannel mail-order retail business will have to cease trading. This is the decision that has been taken by the creditors’ committee with the approval of the insolvency monitor, acting on the proposal of the debtor-in-possession team. The KLiNGEL Group has been involved in debtor-in-possession insolvency proceedings since May 2023. K - Mail Order GmbH & Co. KG is the group’s main company. The activities of SCHNEIDER GmbH & Co. KG are not affected by the winding down of the business.

ABL, a medium-sized manufacturer of electrotechnical products, can carry on with its restructuring as a debtor in possession as planned. The Local Court of Nuremberg opened debtor-in-possession insolvency proceedings today.

Mr Boris Haluszczynski, a registered trader (e. K.) and the owner of pharmacies Limes-Apotheke, Apotheke am ZOB, Apotheke im Reichsstädter Markt and Härtsfeld-Apotheke, has filed an application with the Local Court of Aalen for the opening of debtor-in-possession insolvency proceedings with the clear objective of ensuring long-term stability and maintaining a quality service for his customers.

On 15 August 2023, management at Erwin Gronemeier GmbH & Co. KG filed an application with the Local Court of Bielefeld for the opening of debtor-in-possession insolvency proceedings under section 270b of the German Insolvency Code (InsO) due to the company’s imminent illiquidity.

Restructuring expert Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor for Mädchenflohmarkt GmbH, a well-known online shop offering second-hand clothes. Effective 1 August 2023, MFG Recommerce GmbH based in Berlin has acquired the business by way of an asset deal.

The company also has a subsidiary in Poland that is included in the transaction, but is not affected by the insolvency proceedings. The investor will keep the brand and Mädchenflohmarkt website going and take over the employees.

On 1 August 2023, the Local Court of Essen opened the in-court restructuring proceedings for druckpartner Druck- und Medienhaus GmbH as planned. This confirmed the approach being taken to preserve the business as well as debtor-in-possession management under the printing house’s managing directors Mr Michael Matschuck, Mr Dominik Schikfelder and Mr Marco Böke. Attorney Mr Christoph Chrobok from PLUTA Rechtsanwalts GmbH will also carry on his work as insolvency monitor. He will supervise the opened proceedings and management team in the interests of creditors, assist the company and continue to coordinate closely with the creditors’ representatives.

The Local Court of Karlsruhe opened debtor-in-possession insolvency proceedings for the KLiNGEL Group today. This means that the multichannel mail-order retailer can continue to pursue its restructuring and its digital transformation strategy.

Restructuring expert Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH has found an investor for well-established company Steinkamp. Steinkamp GmbH Werkzeug- und Maschinenbau, newly founded by successful entrepreneur Mr Markus Lindenstruth from southern Germany and Mr Maik Supe based locally, will acquire the business operations and 108 employees with effect from 1 July 2023. The specialist attorney for insolvency and restructuring law and his team have thus achieved a long-term solution for the company from Espelkamp in the federal state of North Rhine-Westphalia roughly one-and-a-half years after it filed for insolvency. The company will continue to be based in Espelkamp for the foreseeable future.

Restructuring expert Mr Christian Heim from PLUTA Rechtsanwalts GmbH has achieved a solution for the Norderstedt site of Rudolf Dankwardt GmbH. Following intensive negotiations, the insolvency administrator has sold the manufacturing and filling facilities that make up the Norderstedt plant to Maurer Pharma Nord GmbH by way of an asset deal. The company is part of the Sebapharma Group, which is known in particular for its medical skincare and cleansing products under the sebamed brand. The relevant parties signed the purchase agreement with effect from 1 July 2023. This means that the site in the federal state of Schleswig-Holstein will continue to manufacture the familiar products with a pH value of 5.5 in the future.

Nursing and health care provider DIE DIAKONIE – Pflege- und Gesundheitsdienst gGmbH based in Lübbecke is engaged in debtor-in-possession restructuring proceedings. The Local Court of Bielefeld approved a corresponding application filed due to imminent illiquidity and ordered provisional debtor-in-possession proceedings.

As part of the provisional insolvency proceedings for ProLupin GmbH, Mr Michael Bohnhoff of PLUTA Rechtsanwalts GmbH has started the process of finding an investor. On 26 June 2023, the Local Court of Stralsund ordered provisional insolvency proceedings and appointed the attorney as provisional administrator.

tubesolar AG filed for insolvency today. Following this, the Local Court of Augsburg ordered provisional insolvency proceedings for the solar start-up’s assets. Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH has been appointed provisional insolvency administrator.

Five months since STOTZ Feinmesstechnik GmbH filed an application for restructuring under debtor-in-possession proceedings, a solution has now been found for the company. The PLUTA team under chief restructuring officer Mr Steffen Beck has managed to conclude an investor agreement. The BETESO Group will acquire the company’s equity interests within the framework of an insolvency plan solution. The relevant parties signed a corresponding investor agreement this week after the creditors’ committee cleared the way for the solution.

ABL, a medium-sized manufacturer of electrotechnical products, is committed to sustainably restructuring and transforming its activities with the aim of putting the business on a viable footing. To this end, management at ABL filed to initiate debtor-in-possession proceedings with the Local Court of Nuremberg on 26 June 2023. The company will be restructured over the coming months to ensure its long-term market success.

Major decisions aimed at securing the company’s future have been taken in the ongoing restructuring of GERRY WEBER. The manufacturer of women’s fashion will focus its future sales strategy on significantly strengthening its partnership with wholesale retailers while at the same time making considerable cuts to its own network of stores in Germany. This move has been preceded by intensive business analysis of every single one of the 171 self-owned domestic stores and outlets in its portfolio.

Mädchenflohmarkt GmbH, an online shop offering second-hand clothes, has filed for insolvency. On 7 June 2023, the Local Court of Stuttgart then ordered provisional insolvency administration for the company’s assets and appointed restructuring expert Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH as provisional administrator.

The Local Court of Göppingen today ordered provisional insolvency proceedings for the assets of the Allgaier Group’s operating companies and appointed several attorneys from PLUTA Rechtsanwalts GmbH as provisional administrators.

The Local Court of Göppingen has ordered provisional insolvency proceedings for the assets of Allgaier Werke GmbH based in Uhingen in the federal state of Baden-Württemberg. Mr Fritz Zanker from PLUTA Rechtsanwalts GmbH was appointed provisional administrator on 20 June 2023. The automotive supplier continues to operate.

Good news for the fashion scene in Frankfurt. Insolvency administrator Dr Stephan Laubereau from PLUTA Rechtsanwalts GmbH has sold the business operations of LSTNR GmbH to a Turkish company that has already been operating fashion stores and an online shop in Turkey under the WUNDER name since 2015. The relevant parties signed the purchase agreement in the past week, with retroactive effect from 1 June 2023.

e-cargo bike provider sigo, which operates all across Germany, is to position itself for the future under a debtor-in-possession restructuring process. The company filed a corresponding application, and the Local Court of Darmstadt approved the provisional debtor-in-possession proceedings on 12 June 2023.

Insolvency administrator Mr Stefan Meyer, a managing partner of PLUTA Rechtsanwalts GmbH, made a decisive step towards achieving an M&A solution for FRIMO Group on 2 June 2023, in cooperation with FRIMO staff and his own team. A comprehensive company purchase agreement was notarised in Düsseldorf last Friday with the buyer, FRIMO Innovative Technologies GmbH, and includes a number of closing conditions that the parties will work intensively on meeting over the coming weeks.

In the insolvency proceedings for windeln.de SE, insolvency administrator Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH sold part of the listed company’s assets, such as the brand and the windeln.de Internet domain, to a Swiss investor. The parties have agreed not to disclose any details of the purchase agreement.

DRUCKPARTNER is committed to sustainably restructuring its activities with the aim of putting the business on a viable footing. To this end, management at druckpartner Druck- und Medienhaus GmbH filed to initiate debtor-in-possession proceedings with the Local Court of Essen on 23 May 2023. Debtor-in-possession proceedings offer a legal framework within which the necessary restructuring measures can be taken in a timely manner while maintaining business operations. According to current planning, the company is expected to complete its restructuring within the next four to six months.

Insolvency administrator Mr Mirko Möllen from PLUTA Rechtsanwalts GmbH has achieved viable follow-up solutions for all four DEVA Asset & Hotelmanagement GmbH hotels. The Villa Mittermaier hotel in Reit im Winkl, the Fischerwirt hotel in Ruhpolding and Vitalhotel Achentaler in Unterwössen are being operated since April by the newly founded DEVA Hotels Verwaltung GmbH. The Beim Egger hotel in Schechen is now being run by a tenant from the region.

On 15 May 2023, Sono Motors GmbH filed an application for protective shield proceedings with the competent court, namely the Local Court of Munich. The court approved the application and appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional insolvency monitor.

Turkish automotive supplier Bayrak Lastik Sanayi ve Ticaret A.Ş. will acquire the business operations of Rüster GmbH, based in Deggingen, in the region of Swabia, by way of an asset deal. All 600 employees will be kept on and transferred to the newly founded Bayrak Technik GmbH. A team led by Mr Ilkin Bananyarli of PLUTA Rechtsanwalts GmbH provided the buyer from Bursa, Turkey, with comprehensive legal support and advice for the transaction as M&A consultants.

Sono Group N.V., the listed parent company of Sono Motors GmbH, filed an application for debtor-in-possession insolvency proceedings with the Local Court of Munich. The court approved the application and appointed Ms Marlene Scheinert from PLUTA Rechtsanwalts GmbH as provisional insolvency monitor.

In the insolvency proceedings for windeln.de SE (‘windeln.de’ or the ‘company’; ISIN: DE000WNDL300 and DE000WNDL318), insolvency administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH is in the process of drawing up an insolvency plan.

The KLiNGEL Group, one of Germany’s largest mail-order companies, is repositioning itself for the future. K - Mail Order GmbH & Co. KG, the group’s main company based in Pforzheim, will continue to pursue its transformation strategy under debtor-in-possession restructuring proceedings. The company has filed a corresponding application.

GHT Mobility GmbH, the company behind the CleverShuttle brand, has filed for insolvency. The Local Court of Charlottenburg has ordered provisional insolvency administration for the company’s assets and appointed restructuring expert Mr Sebastian Laboga from PLUTA Rechtsanwalts GmbH as provisional administrator.

The Local Court of Hof has ordered provisional insolvency proceedings for the assets of Bäckerei Dörsch GmbH, a bakery based in Hof. Mr Peter Roeger from PLUTA Rechtsanwalts GmbH was appointed provisional administrator on 4 May 2023. The bakery continues to operate. The main business and the nine stores have remained open. In addition, all customers and self-service counters are being supplied as usual.

Rudolf Dankwardt GmbH, a manufacturer of high-quality cosmetic products, has filed for insolvency. On 26 April 2023, the Local Court of Norderstedt ordered provisional insolvency proceedings for the company’s assets. The court has appointed restructuring expert Mr Christian Heim from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator. The company had to file for insolvency due to liquidity problems.

Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH has delivered good news in the proceedings for the Schwarze Kiste gastronomy business based in Augsburg: the creditors approved the insolvency plan presented to them at yesterday’s voting meeting at the Local Court of Augsburg. The PLUTA restructuring expert welcomed this decision. Despite seven-figure debts, Schwarze Kiste, a popular business in the region, has now been successfully restructured and is well equipped for the future. The Local Court of Augsburg will soon terminate the proceedings. The insolvency administrator will then monitor that the creditors’ legitimate claims are satisfied. The recovery rate is 23%.

A PLUTA team advised the buyer of insolvent company Galvanoform during the acquisition and takeover process. The new owners are the experienced businessman Mr Hans-Günter Bayer and co-investors. The business operations of the precision tool manufacturer based in Lahr in the Black Forest region were transferred to Galvanoform Innovative Technologies GmbH effective 1 April 2023.

Insolvency administrator Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has successfully completed discussions with investors in respect of SINGER INGENIEUR CONSULT GmbH. As a result, G.I.A. Planung GmbH & Co. KG based in Bayreuth has acquired the business operations of the insolvent engineering services provider from Bayreuth effective 1 April 2023. All 70 or so jobs have been saved with the agreed solution.

Warendorf, a manufacturer of premium kitchens, has been saved. Attorneys Mr Stefan Meyer and Dr Ria Brüninghoff from PLUTA Rechtsanwalts GmbH have sold Warendorf Küchenfabrik GmbH and Warendorf Küchen Retails GmbH to a company in the Hülsta Group effective 1 April 2023. The contracts were signed last night.

Attorney Dr Stephan Laubereau from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor in the insolvency proceedings for Pforzheim Leopoldstrasse Entwicklungs GmbH. Municipal company STADTBAU GmbH PFORZHEIM has acquired the property belonging to the business.

Property management firm IMMO:Schreiber GmbH from Lower Bavaria has filed for insolvency. On 3 March 2023, the Local Court of Deggendorf ordered provisional insolvency proceedings for the company’s assets. The court appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional administrator.

Restructuring expert Mr Frank Brachwitz from PLUTA Rechtsanwalts GmbH had good news today regarding insolvent Berlin-based Internet start-ups Natural Mojo and Skingood Garden. A company of the renowned GÖDE Group is set to acquire the start-ups’ business operations effective 1 April 2023 by way of an asset deal and will keep on the entire workforce.

.J. H. Pölking GmbH & Co. KG based in Osnabrück filed for debtor-in-possession proceedings on 20 March 2023. The Local Court of Osnabrück approved the application, ordered provisional debtor-in-possession proceedings and appointed Mr Stefan Meyer, a specialist attorney for insolvency and restructuring law with PLUTA Rechtsanwalts GmbH, as provisional insolvency monitor. Founded in 1894, shoe wholesaler Pölking has a long history. By taking this step, the company wants to use the options afforded by today’s debtor-in-possession proceedings to adapt itself to the changed market conditions, restructure itself for the future and re-establish its competitiveness.

Insolvency administrator Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has achieved a positive outcome in the insolvency proceedings for the Schöneis paper processing company. The M&A solution negotiated for the business based in Lower Saxony was unanimously approved today by the creditors’ assembly. This means that the asset deal can go ahead as planned effective 1 April 2023. The business will be acquired by Bernd Häseler Buchbinderei GmbH from Minden (North Rhine-Westphalia). In the future, the company will operate under the name Häseler & Schöneis Buchbinderei GmbH and be part of the well-known Sattler Media Group.

Insolvency administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has concluded the purchase negotiations for metron Vilshofen GmbH. The purchase agreement has already been signed and notarised.

On 14 February 2023, the Local Court of Münster ordered provisional insolvency proceedings for the assets of FRIMO Group GmbH and FRIMO GmbH (FRIMO). Attorney Mr Stefan Meyer, a restructuring expert from PLUTA Rechtsanwalts GmbH, has been appointed provisional insolvency administrator.

Steel construction company Aschenbrenner GmbH is to undergo a restructuring process under debtor-in-possession proceedings in order to reposition itself for the future. It is being supported in this by Mr Thomas Planer, a restructuring expert from consultancy Planer & Kollegen GmbH. “Debtor-in-possession proceedings will provide Aschenbrenner with sufficient liquidity to take the steps that are necessary to turn around its performance. The prospects for this are good, and the concept is coherent. We will do everything we can to get this long-standing company back on a sound footing again,” said Mr Planer. PLUTA attorney Mr Patrick Meyerle will oversee the proceedings in the best interests of creditors in his capacity as court-appointed insolvency monitor.

Good news in the insolvency proceedings for surf4shoes GmbH: insolvency administrator Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has succeeded in finding a follow-up solution for the company. Effective 1 March 2023, a subsidiary of Commertunity AG will take over the online retailer’s business operations and assets. All of the approximately 20 employees will be kept on.

Schmuckrausch Vertriebs GmbH & Co. KG, a jewellery retailer with six sales outlets and an online shop, has filed for insolvency. Following this, on 1 February 2023, the Local Court of Munich ordered provisional insolvency administration for the company’s assets and appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional administrator.

The FRIMO Group, a German technology group, intends to restructure itself with the means afforded by insolvency proceedings. Management therefore filed for insolvency with the competent court, namely the Local Court of Münster. Following this, the court appointed Mr Stefan Meyer, a restructuring expert from PLUTA Rechtsanwalts GmbH, as provisional insolvency administrator. The FRIMO Group is a leading provider of technologically advanced tools, equipment and turnkey production systems for automotive customers on an international scale.

Patrick Meyerle from PLUTA Rechtsanwalts GmbH is still looking for an investor for the kitchen company Küchen Quelle. He has been acting as provisional insolvency administrator since the end of November 2022.

The Local Court of Bayreuth ordered provisional insolvency proceedings to be opened for the assets of SINGER INGENIEUR CONSULT GmbH based in Bayreuth on 1 February 2023. Mr Peter Roeger from PLUTA Rechtsanwalts GmbH was appointed provisional administrator. He is working with the management team to keep the engineering services provider running. All orders are being fulfilled as planned.

Kissinger Sonne GmbH & Co. KG has filed for insolvency. Yesterday, the Local Court of Schweinfurt then ordered provisional insolvency administration for the care provider’s assets and appointed Mr Peter Roeger from PLUTA Rechtsanwalts GmbH as provisional administrator.

Medium-sized company Intercontinentale ZIEGRA Eismaschinen GmbH based in Isernhagen, near Hanover, filed for debtor-in-possession restructuring proceedings with the Local Court of Hanover on 26 January 2023. The preparatory work for the debtor-in-possession proceedings were carried out by Mr Thorsten Hunsalzer from consultancy Gehrke Econ in his capacity as attorney of record. The court approved the application on 27 January 2023.

STOTZ Feinmesstechnik GmbH from Gerlingen, near Stuttgart, has filed an application for restructuring under debtor-in-possession proceedings. The Local Court of Ludwigsburg thereupon ordered provisional proceedings to be opened. Restructuring expert Mr Steffen Beck from PLUTA Rechtsanwalts GmbH is supporting the company in his capacity as chief restructuring officer (CRO). Dr Dietmar Haffa of law firm Schultze & Braun, the court-appointed provisional insolvency monitor, will oversee the proceedings in the interests of the creditors.

windeln.de SE (‘windeln.de’ or the ‘company’; ISIN: DE000WNDL300 and DE000WNDL318) has stated that the Local Court of Munich today opened the insolvency proceedings for its assets, which had been filed for on 4 November 2022. Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has been appointed insolvency administrator. Prior to this, he had already been acting as provisional administrator for the company.

Alfred Reimer GmbH from Gronau, a company specialising in the production of high-precision parts, yesterday filed for insolvency under debtor-in-possession proceedings with the competent Local Court in Münster due to imminent illiquidity. The court assented to this application and ordered provisional debtor-in-possession proceedings.

Restructuring expert Mr Sebastian Laboga from PLUTA Rechtsanwalts GmbH is holding talks with investors regarding Fraugster, a start-up and developer of innovative anti-fraud software. The Berlin-based company is involved in provisional insolvency proceedings, as a necessary funding round as part of an M&A process could not be finalised. On 17 January 2023, the Local Court of Charlottenburg appointed Mr Sebastian Laboga as provisional insolvency administrator.

Skylife Fitness GmbH has been engaged in restructuring proceedings since the start of the year. The company has a workforce of almost 30 employees. Mr Manfred Lehenberger founded Skylife Fitness in 2011 and made the studio a popular training venue for all kinds of sports, health and fitness enthusiasts. The company is now to be restructured under debtor-in-possession insolvency proceedings with the support of restructuring expert Mr Thomas Planer of Planer & Kollegen GmbH. Mr Georg Stemshorn of PLUTA Rechtsanwalts GmbH in Augsburg has been appointed provisional insolvency monitor by order of the competent court.

TK-Oberfläche GmbH, a surface coating specialist, filed for insolvency under debtor-in-possession proceedings last Friday. The Local Court of Bielefeld, as the competent court, approved the application. This means that the management team will remain in place and can use the opportunities afforded by debtor-in-possession proceedings to guide the company through the proposed and rigorously planned restructuring process.

NEUERO Farm- und Fördertechnik GmbH based in Melle has successfully completed its restructuring, just in time for the start of the 2023 business year. The company, which currently employs around 50 people, had filed for debtor-in-possession proceedings with the Local Court of Osnabrück on 23 February 2022. The family business has been in existence for over 100 years and is a market leader in storage systems and silos used for grain storage and drying, conveyor equipment, and grinding and mixing technology, with manufacturing based in Germany. It achieved stable revenues of approximately 20 million euros in recent years. Around 50% of total sales are accounted for by the construction of silo systems, of which NEUERO has already built over 20,000 in a responsible role.

At the beginning of the year, it has been possible to conclude the pending M&A transaction for WIKING Helikopter Service GmbH. This was the positive news from insolvency administrator Dr Christian Kaufmann of PLUTA Rechtsanwalts GmbH. The purchase agreement signed in late September 2022 was originally subject to a number of conditions, all of which have now been met.

The business of automotive supplier BUKUMA is being operated by an investor, effective as of 1 January 2023, which means that the long-standing company has been preserved and can look to the future with confidence. The BUKUMA business has been taken over as part of an asset deal by Restart GmbH & Co. KG, whose entity Heinze Solutions GmbH operates in the automotive sector, with all of the some 200 employees being kept on. The plastic injection moulding company’s operations will remain in Boppard and its other two sites in Kirchwald and Dörth. The purchase agreement was signed in mid-December 2022 but was subject to specific closing conditions being complied with. Now that all of these (suspensive) conditions have been met, the transaction can be completed as planned at the turn of the year 2022/2023. The parties have agreed not to disclose the purchase price or the other terms and conditions under the asset deal.