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.

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.