Press Releases

The rescue of Bayreuth Tigers Eishockey GmbH is within reach. Today, the creditors’ assembly approved the insolvency plan by a large majority in the proceedings. Restructuring expert Mr Peter Roeger from PLUTA Rechtsanwalts GmbH had drawn up the plan beforehand and submitted it to the Local Court of Bayreuth using his right of submission under the German Insolvency Code (InsO). The insolvency plan presented puts the creditors in a better position compared to the liquidation of the ice hockey club. Any appeal must now be lodged within 14 days.

Boryszew Oberflächentechnik Deutschland GmbH based in Prenzlau is to reposition itself under debtor-in-possession restructuring proceedings. Sister company Boryszew Formenbau Deutschland GmbH located in Doberschau has also filed for the same. The Local Court of Neuruppin assented to both applications today and ordered provisional debtor-in-possession proceedings. Mr Ingo Thurm and Dr Oliver Liersch from PLUTA Rechtsanwalts GmbH will manage the repositioning process as chief restructuring officers (CROs).

Töpfer GmbH from Dietmannsried, near Kempten, has filed an application for restructuring under debtor-in-possession proceedings. Today, the Local Court of Kempten then ordered provisional proceedings.

Mr Andreas Vogel, the well-known Cuxhaven restaurateur running seafood restaurant Hus op’n Diek, has filed for insolvency. On 4 April 2024, the Local Court of Cuxhaven ordered provisional insolvency administration for his assets and appointed Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional administrator.

The Stute Group based in Paderborn has filed for insolvency for three of its key operating companies to restructure itself as a debtor in possession. The producer businesses concerned, namely Stute Nahrungsmittelwerke, Paderborner Kühlhaus and K-S-K Technische Betriebswerkstätten, have lost considerable sales volumes in recent years due to customers obtaining the relevant products from Eastern Europe. According to the most recently published annual accounts, the Stute holding company achieved sales of approx. 234 million euros in 2021.

Mr Steffen Beck from PLUTA Rechtsanwalts GmbH has announced the conclusion of the process of finding an investor for interior decorator TTL OP. As insolvency administrator for TTL OP GmbH, he has achieved a follow-up solution for four branches in Dillingen, Heilbronn, Schwäbisch Gmünd and Aalen. A newly established transfer company will take over the locations and some 40 employees.

Insolvency administrator Mr Philip Konen from PLUTA Rechtsanwalts GmbH has found an initial partial solution for the insolvent Traumhaus AG (ISIN: DE000A2NB7S2). With economic effect from 1 April 2024, SAENTIS Family Office GmbH has acquired a major part of the real estate developer’s assets. The persons responsible signed the corresponding purchase agreement today.

Insolvency administrator Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has announced welcome news in the Bayreuth Tigers GmbH proceedings. Bavarian software company onesto wishes to acquire the ice hockey club and has concluded a corresponding contract with insolvency administrator Mr Peter Roeger for the acquisition of the business. The contract was signed today. The specific implementation will now follow the insolvency plan submitted today to the court by the administrator.

Falter GmbH, a company based in the federal state of Hesse, has filed for debtor-in-possession restructuring proceedings, which were then ordered by the Local Court of Darmstadt on 13 March 2024. The roofing business intends to use the proceedings to reposition itself for the future.

Windhager Zentralheizung GmbH has filed for insolvency. Following this, on 15 March 2024, the Local Court of Augsburg, as the insolvency court, ordered provisional insolvency administration for the assets of the company, which specialises in heating solutions, and appointed Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH as provisional administrator.

MARO has initiated a comprehensive restructuring process. To this end, it has filed an application for the opening of debtor-in-possession insolvency proceedings. The Local Court of Munich has approved the application and ordered said proceedings. PLUTA restructuring expert Mr Ivo-Meinert Willrodt will oversee the proceedings as provisional insolvency monitor in the interests of creditors.

A follow-up solution has been achieved under the debtor-in-possession proceedings for Meßner GmbH & Co. KG based in the East Westphalia-Lippe region. Newly founded Meßner Produktions GmbH & Co. KG has acquired the business operations and the some 40 employees effective 1 March 2024. The site has also been saved. The restructuring team has therefore found the best possible solution for the long-standing company. The creditors’ assembly unanimously approved the sale in the past week.

Mr Frank Brachwitz from PLUTA Rechtsanwalts GmbH has announced positive news in the insolvency proceedings for start-up Wunderkarten GmbH: the business has been sold to an investor by way of an asset deal. The creditors’ assembly has unanimously approved the insolvency administrator’s restructuring proposal. The company has been saved in its entirety and all employees will be kept on by the new owner.

Maibach Logistik GmbH has filed an application for debtor-in-possession proceedings and is currently undergoing restructuring. Despite this action, the business is still operating normally.

Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has achieved a solution for Backsinfonie GmbH. Effective 1 March 2024, following intensive negotiations, the insolvency administrator for the wholesale bakery sold the business operations to REINERS bread & snack KG based in the Landshut district. The site in Moosinning and all 30 or so jobs have been saved as a result of the solution. The parties involved have agreed to maintain confidentiality about the purchase price.

Insolvency administrator Mr Daniel Barth from PLUTA Rechtsanwalts GmbH has found an investor for sole proprietorship BMC Hotelservice & Dienstleistungen. The newly established BMC Hotelservice & Dienstleistungen GmbH will acquire the business and the some 80 employees by way of an asset deal. The transaction was approved at today’s meeting of the creditors’ assembly.

PLUTA restructuring expert Mr Marcus Katholing supporting management at the long-standing company

HABA Group B.V. & Co. KG and HABA Sales GmbH & Co. KG have exited debtor-in-possession insolvency proceedings as planned at the end of 29 February 2024. As part of the 2030 Future Pact presented in December 2023, HABA FAMILYGROUP will align its HABA and HABA Pro brands specifically to the market and concentrate more on its core strengths in the area of wood going forward. The strategy provides for a focusing of the range under the HABA brand on high-quality toys and games that foster child development, while the intention in respect of HABA Pro is to further expand its market leadership in furniture for nurseries and daycare centres.

Mr Michael Pluta had good news at a staff meeting today regarding the Allgaier Automotive GmbH site in Uhingen. The restructuring expert has held positive discussions with automakers in recent months and will soon conclude an agreement for the next two years that will secure the future of the main site of Allgaier, an automotive supplier, in Uhingen in the ongoing insolvency proceedings.

Restructuring experts Mr Ingo Thurm and Mr Torsten Gutmann from PLUTA Rechtsanwalts GmbH have announced positive news: follow-up solutions have been achieved in the insolvency proceedings for up packaging GmbH and sister company Unger & Pauselius Ihre Drucker GmbH (‘updruck’). Meinders & Elstermann GmbH & Co. KG based in Belm is set to acquire both companies by way of an asset deal. In addition to the two locations in Hamelin, all 35 jobs will therefore also be saved.

The INTERBODEN Group has launched the process of finding an investor. The family-run real estate project developer based in Ratingen has been involved in insolvency proceedings with several companies since early February, a process aimed at achieving the sustainable realignment of the group as a whole.

Ambulanter Pflegedienst Up Visite GmbH, an outpatient care service provider, filed for insolvency on 16 February 2024. The Local Court of Aurich, as the competent court, then appointed attorney Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator. The care service provider based in Krummhörn remains fully operational.

The Meyermode brand has been sold to the Popken Fashion Group with effect from 15 February 2024. Following the MIAMODA and HAPPYsize brands, this is already the third brand sold by K - Mail Order GmbH & Co. KG to this well-known and internationally experienced investor. The creditors’ committee has unanimously approved the transaction.

Kurt Erxleben GmbH & Co. KG, a leading supplier of formed parts to the automotive industry, is planning to reposition itself under debtor-in-possession restructuring proceedings. Those responsible submitted the corresponding application to the Local Court of Delmenhorst, which assented to the application and ordered provisional debtor-in-possession proceedings on 19 February 2024.

The sole proprietorship known under the brand name feiermeier has filed for insolvency. On 19 February 2024, the Local Court of Nuremberg appointed attorney Mr Daniel Barth from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator.

The KLiNGEL Group has sold the IMPRESSIONEN brand to the Witt Group, which just recently acquired the Wenz brand. The creditors’ committee has already unanimously approved the sale. Antitrust clearance is still pending.

Vitaminmarkt Staufenhof OHG, based in Hilzingen in the federal state of Baden-Württemberg, has filed for insolvency. Following this, on 13 February 2024, the Local Court of Constance ordered provisional insolvency proceedings and appointed Mr Florian Martin Schiller from PLUTA Rechtsanwalts GmbH as provisional administrator.

TTL OP GmbH has filed for insolvency. Yesterday, the Local Court of Aalen then ordered provisional insolvency administration for the assets of the interior decorator with its 27 branches in southern Germany and appointed Mr Steffen Beck from PLUTA Rechtsanwalts GmbH as provisional administrator.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.