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New arrangements have been made in the restructuring proceedings for the MAAS Group from Ilshofen-Eckartshausen. MAAS Baustoffe GmbH, which is successfully operating ten building supplies stores, will continue under debtor-in-possession management. The Local Court of Heilbronn opened the debtor-in-possession proceedings as planned. This means that company’s management team led by Mr Stefan Dowiasch and Mr Dirk Eichelbaum will remain in office, receiving advice from the business law firm Buchalik Brömmekamp.
Managing director Mr Stefan Dowiasch from MAAS Baustoffe said, “Due to the insolvency of the group, the building supplies company had to apply for debtor-in-possession proceedings. However, the company is operating profitably. The proceedings have no effect on the stores, and we can see that the customers are remaining loyal to us.” Even now that the proceedings have been opened, the ten building supplies stores are still open at their usual times and their range of products is unchanged. Last week, the provisional creditors’ committee gave the green light for the process to find an investor for MAAS Baustoffe.
MAAS Profile GmbH and BEMO Systems Engineering GmbH, which have specialised in the manufacture of roofing and façade systems, will be restructured during ordinary insolvency proceedings, as will the not operationally active holding company. Mr Michael Pluta, who previously acted as the provisional insolvency monitor, has been appointed as the insolvency administrator for the three companies by the Local Court of Heilbronn. At MAAS Baustoffe, Mr Michael Pluta is acting as the insolvency monitor.
This step is intended to simplify the proceedings and to implement the restructuring measures more efficiently and quickly. An investor is being sought as a solution for the building supplies company. The insolvency administrator will ensure that operations continue at MAAS Profile and BEMO Systems Engineering. Apart from concentrating on profitable orders, the companies’ product portfolio will be tightened up and their product concept will be optimised. The goal is for the companies to continue operations and to save as many jobs as possible.
The MAAS group has a total of 370 employees: MAAS Baustoffe has a workforce of 119 people, while 251 employees work for the other three companies. Insolvency administrator Michael Pluta explained, “Our team will implement the restructuring measures. MAAS Profile and BEMO Systems Engineering have good prospects for the future.” The PLUTA restructuring team also includes the management experts Mr Reinhard Wünsch and Ms Martina Hengartner as well as the restructuring manager Mr Helmuth Rauscher.