Debtor-in-possession proceedings opened for Mocopinus – discussions with investors

The regular proceedings have been opened after just two months of provisional debtor-in-possession management. The business has been able to stabilise its operations in this short space of time despite the company holidays over the New Year period and the challenging market environment. Production, sales and logistics activities are continuing without restriction at all locations (Ulm, Karlsruhe, Ammelshain).

Restructuring team and investor process

Management is still being supported by attorney Mr Stephan Strumpf (from law firm FINKENHOF) in his capacity as general agent. Attorney Mr Georg Jakob Stemshorn (PLUTA Rechtsanwalts GmbH) is the court-appointed insolvency monitor and had already been overseeing the provisional proceedings.

Debtor-in-possession proceedings are in-court restructuring proceedings designed to rescue and rehabilitate financially distressed companies. Management remains in charge under the legal supervision of an insolvency monitor.

The process of finding an investor for Mocopinus has already gained considerable momentum – following broad market outreach, discussions are now ongoing with interested parties regarding a sustainable solution for the long-standing company. The business employs around 270 people.

Mr Ulrich Braig, CEO of Mocopinus, said, “We would like to express our sincere thanks to our staff for their efforts over recent weeks and to our customers and suppliers, who are standing by us at this time and support our restructuring process.”

As one of Europe’s leading industrial planing mills, Mocopinus specialises in finished wood products for façades, terraces and interiors. The company employs around 270 people at its production facilities in Karlsruhe (around 180 employees) and Ammelshain (around 60 employees), near Leipzig, as well as in administration in Ulm (around 30 employees) and combines many years of wood processing experience with an in-house lacquer production operation.