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Your press contact: Patrick Sutter, relatio PR, +49 89 210 257-22, press@pluta.net

Tenth KLiNGEL brand sale completed: Wenz to be acquired by the Witt Group

8 February 2024 · Pforzheim · Business Area Restructuring

The KLiNGEL Group has successfully completed its tenth brand sale and thus clinched a special transaction. The renowned Witt Group, an Otto Group company, will acquire the well-known Wenz brand and the domain, probably with effect from the beginning of March. The creditors’ committee has unanimously approved the transaction. Approval of the transaction by the antitrust authorities is still pending. The parties have agreed not to disclose the purchase price.

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PLUTA attorney Christian Heim sells Dankwardt site in Jessenitz

5 February 2024 · Hamburg · Business Area Insolvency Administration

Mr Christian Heim from PLUTA Rechtsanwalts GmbH managed to sell the property and parts of the machinery at the Dankwardt site in Jessenitz last week. The parties have agreed not to disclose the purchase price.

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PLUTA restructuring expert Stefan Meyer appointed provisional administrator for SD Automotive

2 February 2024 · Osnabrück · Business Area Insolvency Administration

Management of well-known automotive supplier SD Automotive Solutions GmbH, based in Georgsmarienhütte, filed for insolvency with the Local Court of Osnabrück on 31 January 2024. The reasons for this included high losses in sales that can be attributed to decisions taken by customers (car manufacturers/OEMs) involving the termination of series production contracts, a reduction in release orders and the postponement of new projects. This sales shortfall of several million euros inevitably resulted in liquidity problems that could not be compensated for in the short term outside of insolvency proceedings.

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KLiNGEL sells its well-known health brand WELLSANA to the GÖDE Group

1 February 2024 · Pforzheim · Business Area Restructuring

The KLiNGEL Gruppe has announced its next brand sale. A company that is part of the renowned GÖDE Group will acquire health brand WELLSANA, including its domain and warehouse, effective 1 February 2024. The creditors’ committee has unanimously approved the transaction.

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Bayreuth Tigers to continue to fulfil its fixtures

31 January 2024 · Bayreuth · Business Area Insolvency Administration

Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has announced positive news in the insolvency proceedings for Bayreuth Tigers Eishockey GmbH: the men’s ice hockey team’s home game on 4 February can go ahead as planned at the artificial ice stadium in Bayreuth. The next away game on 2 February will also take place. At this time, the team is also very likely to fulfil all remaining fixtures in the regular season. The last game is scheduled for 25 February. Under the terms of the statutes of the German Ice Hockey Federation (DEB), the team will, however, not be able to take part in the play-offs.

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PLUTA attorneys Dr Rigol and Dr Werner support GFO with acquisition of Hilden hospital

30 January 2024 · Cologne · Business Area Legal Consulting

St. Josefs Krankenhaus, a hospital in Hilden, has succeeded in beginning the year with a fresh start. Having been involved in debtor-in-possession insolvency proceedings, it has now been acquired by Gemeinnützige Gesellschaft der Franziskanerinnen zu Olpe mbH (GFO). Insolvency expert Dr Ruth Rigol and M&A specialist Dr Norman Werner from PLUTA Rechtsanwalts GmbH advised GFO management on the transaction and are supporting the hospital’s integration into the GFO network at this time.

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Gehri bakery insolvency to be continued as regular proceedings

29 January 2024 · Singen · Business Area Insolvency Administration

The Local Court of Freiburg today ordered regular insolvency proceedings for the assets of Gehri Hochschwarzwälder Bauernbrotbäckerei GmbH & Co. KG and appointed Mr Florian Schiller from PLUTA Rechtsanwalts GmbH as insolvency administrator. Accordingly, the proceedings conducted under debtor-in-possession management to date will be continued as regular insolvency proceedings. Mr Schiller had previously acted as insolvency monitor for the bakery.

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PLUTA attorney Peter Roeger appointed provisional administrator for Bayreuth Tigers Eishockey GmbH

26 January 2024 · Bayreuth · Business Area Insolvency Administration

Bayreuth Tigers Eishockey GmbH has filed for insolvency. By its decision taken on 26 January 2024, the Local Court of Bayreuth ordered provisional insolvency proceedings and appointed Mr Peter Roeger from PLUTA Rechtsanwalts GmbH as provisional administrator.

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PLUTA expert Frank Schorisch appointed provisional administrator for Familie Gärtner retirement home

25 January 2024 · Bielefeld · Business Area Insolvency Administration

Seniorenheim Familie Gärtner GmbH has filed for insolvency. On 19 January 2024, the Local Court of Bielefeld ordered provisional administration for the care provider’s assets and appointed Mr Frank Schorisch from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator.

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Investor sought for TRAMAG

24 January 2024 · Fürth · Business Area Insolvency Administration

Mr Patrick Meyerle from PLUTA Rechtsanwalts GmbH has launched the process of finding an investor for TRAMAG Transformatorenfabrik GmbH & Co. KG. By its decision taken on 3 January 2024, the Local Court of Fürth ordered provisional insolvency proceedings for the company’s assets and appointed the attorney as provisional administrator.

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PLUTA M&A team advises selling party on sale of shares in Porzner Steine & Erden GmbH

17 January 2024 · Munich · Business Area Legal Consulting

M&A experts at PLUTA have advised Mr Johannes Porzner, a shareholder in Porzner Steine & Erden GmbH based in Zapfendorf, on the sale of his 50% stake. The shares have been acquired by Lenz, Ziegler, Reifenscheid GmbH & Co. KG in Kitzingen.

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GOLDNER buys Alba Moda brand from the KLiNGEL Group

17 January 2024 · Pforzheim · Business Area Restructuring

The KLiNGEL Group has concluded the sale of another well-known fashion brand. Alba Moda GmbH, a wholly owned subsidiary of the group, has sold its Alba Moda brand as well as customer addresses and inventories to the GOLDNER Fashion Group. The transaction will take effect on 1 February 2024.

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KLiNGEL sells long-standing jewellery brand DiEMER to the GÖDE Group

15 January 2024 · Pforzheim · Business Area Restructuring

The new year has begun with the next brand sale under the KLiNGEL Group’s debtor-in-possession proceedings. A company that is part of the renowned GÖDE Group is set to acquire DiEMER, a long-standing jewellery brand. Effective 1 February 2024, K - Mail Order GmbH & Co. KG will sell the brand as well as the domains, customer addresses and warehouse to the international group. The creditors’ committee has unanimously approved the transaction.

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Weller to continue operating – Michael Pluta appointed provisional insolvency administrator

9 January 2024 · Stuttgart · Business Area Insolvency Administration

Apparate- und Behälterbau Weller GmbH made an application to the Local Court of Heilbronn for the opening of insolvency proceedings for its assets. By its decision taken on 29 December 2023, the court ordered provisional insolvency administration and appointed restructuring expert Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as provisional administrator. Despite having filed for insolvency, the mechanical engineering firm based in Bühlertann remains fully operational.

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Signa Sports United Group: Future solution agreed for Tennis-Point

8 January 2024 · Business Area Insolvency Administration

A future solution has been found for the tennis equipment supplier Tennis-Point, which is part of the Signa Sports United Group (SSU): a consortium of investors led by the financial investor Orlando Capital V and including company founder and current Managing Director Christian Miele will acquire and continue the business of the internationally active e-commerce company. The investors concluded a corresponding agreement with the insolvency administrator of Tennis-Point GmbH, lawyer Dr Christian Gerloff, for the acquisition of the company's assets.
The consortium has also entered into negotiations with the insolvency administrator of Signa Sports United GmbH, lawyer Stefan Meyer, on the acquisition of the interests in the sales companies in France and the USA (share deal) and reached a verbal agreement. The results are currently being finalised in writing and are expected to be formally finalised today.

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No investor for fashion retailer Rübsamen

8 January 2024 · Augsburg · Business Area Insolvency Administration

It has not been possible to find an investor for the Rübsamen Group. Unfortunately, the fashion retailer is unable to continue operating on a lasting and profitable basis without such. The decision has therefore been taken to close Textilhaus Rübsamen GmbH & Co. KG and the group’s other two companies. The main store in Augsburg will remain open until the end of April 2024.

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Publisher Harenberg examines possible options for buchreport

2 January 2024 · Cologne · Business Area Insolvency Administration

The Local Court of Cologne opened insolvency proceedings for the assets of Harenberg GmbH on 1 January 2024. Attorney Mr Stefan Conrads from PLUTA Rechtsanwalts GmbH was appointed insolvency administrator, having previously acted as provisional administrator. The company, which has been publishing the well-known buchreport magazine for more than 50 years, filed for insolvency due to liquidity problems.

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LOOPING GROUP finds investor / Isartal Health Media joins as shareholder / PLUTA team achieves best possible solution

28 December 2023 · Munich · Business Area Insolvency Administration

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.

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PLUTA restructuring expert Michael Wahl sells Allgaier Process Technology GmbH to SIEBTECHNIK

21 December 2023 · Uhingen · Business Area Insolvency Administration

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.

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KLiNGEL shoe brand Vamos to come under the umbrella of the Weltbild D2C Group

21 December 2023 · Pforzheim · Business Area Restructuring

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.

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PLUTA restructuring expert Ivo-Meinert Willrodt seeks investor for wholesale bakery Backsinfonie

19 December 2023 · Hallbergmoos · Business Area Insolvency Administration

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.

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PLUTA attorney Stefan Conrads seeks investor for Harenberg publishing house

15 December 2023 · Cologne · Business Area Restructuring

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.

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devolo GmbH to commence restructuring

14 December 2023 · Aachen · Business Area Restructuring

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.

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BADER to acquire fashion brand KLiNGEL

13 December 2023 · Pforzheim · Business Area Restructuring

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.

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PLUTA attorney Ivo-Meinert Willrodt secures creditor approval for windeln.de insolvency plan

11 December 2023 · Munich · Business Area Insolvency Administration

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.

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Fashion retailer Yeans Halle to position itself for the future

7 December 2023 · Stuttgart · Business Area Restructuring

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.

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M+W to restructure itself under debtor-in-possession proceedings

6 December 2023 · Mannheim · Business Area Insolvency Administration

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.

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KLiNGEL sells MIAMODA fashion brand

4 December 2023 · Pforzheim · Business Area Restructuring

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.

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PLUTA restructuring expert Florian Zistler sells Urlbauer Haustechnik to BayWa

1 December 2023 · Kempten · Business Area Insolvency Administration

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.

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PLUTA attorney Christian Heim sells mechanical engineering firm Mogensen to the JOEST group

29 November 2023 · Hamburg · Business Area Insolvency Administration

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.

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Currently, only corporate news items are available for Italy.

PLUTA lawyer and financial analyst García Esteve participated in the Round Table of the II National Banking Law Congress.

9 May 2022 · Madrid

Last April 29, the general director of PLUTA in Spain, Xavier Garcia Esteve, participated in the Round Table on "Restructuring and refinancing of companies: bank creditors" of the II National Congress of Banking Law organized by the Ilustre Colegio de Abogados de Madrid (Masdrid’s Bar Associatio), with Luis Miguel Sánchez Velo, Director of the Legal Restructuring of Banco Santander; Javier Gutierrez de Cabiedes , Legal Director of Retail Banking and Litigation of CaixaBank, Antonio Uguina, Director of Risks of BBVA, and Manuel Ruiz de Lara, Magistrate of the Commercial Court nº 11 of Madrid, and as moderator José Carlos González Vázquez, professor at the Complutense University of Madrid and partner of Ceca Magan Abogados.

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