HABA FAMILYGROUP exits debtor-in-possession proceedings

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.

“Exiting debtor-in-possession proceedings represents a significant milestone on our way to the future. Through this, we are sending an important signal to our customers, suppliers and the region,” said Dr Mario Wilhelm, managing director of HABA FAMILYGROUP. The termination of the insolvency proceedings is of particular significance for the HABA Pro sales unit, which can now again take part in public tenders as the familiar HABA Sales GmbH & Co. KG. “The discussions at the Nuremberg International Toy Fair and the didacta education trade fair in Cologne showed our relevance in the market and for our national and international customers and partners with our HABA and HABA Pro brands,” said Dr Mario Wilhelm.

Future management structure

The management team will be reinforced going forward. In addition to the Habermaass family that owns the company and managing directors Dr Mario Wilhelm and Ms Stefanie Frieß, a steering committee will be set up as a supervisory body and to advise management. Moreover, Dr Mario Wilhelm and Ms Stefanie Frieß will be supported by external restructuring expert Mr Marcus Katholing of PLUTA Management GmbH. Mr Marcus Katholing has already helped numerous companies undergoing debtor-in-possession proceedings and restructurings and supported their realignment.

“Over recent months, we have worked hard on a clear market positioning, viable cost structures and the company’s sustainable alignment both internally and externally. We have succeeded in setting a course for HABA FAMILYGROUP’s successful future that will allow the company to build on its 85 years in business,” said Mr Martin Mucha, a restructuring expert at law firm GRUB BRUGGER. He has supported management as general agent during the debtor-in-possession proceedings.

Mr Tobias Sorg from dmp solutions has overseen both proceedings in the interests of creditors in his capacity as insolvency monitor.