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The Local Court of Göppingen ordered provisional insolvency administration for the assets of Emil Bucher GmbH & Co. KG today and appointed Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as provisional administrator. Filing for insolvency became inevitable for the mechanical engineering firm due to liquidity problems. The company’s business operations will continue in Eislingen without any restrictions.
Emil Bucher produces special machines for the automotive industry and aircraft manufacturers. The company has been experiencing a significant decline in orders for some time now, and these difficulties have been compounded by financial burdens on account of the coronavirus pandemic and considerable cost pressure in the industry. Emil Bucher, a medium-sized family business, employs 189 people at its Eislingen site. Their salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. The other companies in the Bucher Group are not affected by the application for insolvency.
Mr Pluta, the provisional insolvency administrator, is already on site with the company. Together with his team, the restructuring expert is now in the process of gaining a detailed overview of the company’s financial situation. In addition, he will hold initial discussions with customers and suppliers together with the management team. The aim is to work out a viable solution for the future of the business. Managing director Mr Ralf Bauer said: “This is not an easy situation. Given the current order position, there was no way to avoid filing this application. We will now work together on finding a sustainable solution for our business. In the meantime, we will remain a reliable supplier to our customers.”
Mechanical engineering firm with more than 70 years of experience
Emil Bucher GmbH & Co. KG is part of the Bucher Group. Founded in 1947, the company is an internationally operating system supplier of manufacturing, assembly and body-in-white systems, flexible robotic cells, and prototype and series equipment in the automotive sector. Its skilled employees also offer all kinds of manufacturing, connection and automation solutions for the aviation industry. Its services to customers cover all phases of product development – from design, development, simulation and engineering through to the construction of prototypes, the performance of functional and other testing, and the production of small and large series.