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Patrick Sutter
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Download as PDFFaced with economic challenges, Nafz Holzhaus GmbH based in Horb am Neckar has initiated debtor-in-possession proceedings with the aim of ensuring its future viability. The Local Court of Rottweil approved the application from management on 30 December 2024 and ordered provisional debtor-in-possession proceedings. The company is using these proceedings to restructure itself under the guidance of its current management. Experienced restructuring expert Mr Steffen Beck from PLUTA Rechtsanwalts GmbH is supporting the proceedings in his capacity as general agent.
The business will still operate as usual and continue to process all orders in hand from customers and accept new ones. “We view the debtor-in-possession proceedings as an opportunity to fundamentally reposition our company and emerge strengthened from the current situation,” explained managing director Mr Sebastian Nafz. All employees’ salaries are guaranteed thanks to specific substitute benefits provided under German insolvency law. Staff have already been informed about the current situation.
Restructuring expert Mr Beck is on the ground with his team and providing the company with advice on restructuring matters in his role as general agent. “Our initial discussions have been very positive. The employees also support the restructuring efforts and we are working jointly and decisively on solutions. These are good foundations for the weeks ahead,” said attorney Mr Beck. The PLUTA team also includes attorney Mr Jonas Scheble and business lawyer Ms Sarah Dingler. The court has appointed Dr Dietmar Haffa from law firm Schultze & Braun as provisional insolvency monitor to oversee the proceedings and represent the interests of the creditors.
Natural living spaces
Nafz Holzhaus GmbH was founded by brothers Sebastian and Lukas Nafz in 2013. As a general contractor, it offers solutions promoting healthy living environments and natural living spaces in the form of turnkey buildings. The team has a great wealth of experience in all service phases for everything from extensions and serial retrofits through to the planning and development of houses, apartment buildings and complex structures.
Nafz Holzhaus GmbH has had to file for insolvency due to the persistently challenging macroeconomic situation. Players in the construction industry were again reticent to buy and invest in 2024 on account of the high inflation of previous years and increased interest rates and build costs. Many potential long-term investments are being delayed because of these economic uncertainties. This has led to a noticeable decrease in new business for Nafz, which has directly impacted the order position and sales performance of this growth-oriented company.
The company believes it has good prospects for overcoming the economic challenges. Management is already working on a comprehensive restructuring plan that will include financial stabilisation initiatives as well as measures aimed at increasing efficiency and adapting to the market. A long-term solution involving an investor is another possibility. The business will remain fully operational while the proceedings are ongoing. During the restructuring, quality will still be a priority and the company will maintain its standards without exception.
Customers and business partners supportive of the process
The company is grateful to its staff, customers and business partners for their trust and support during this challenging phase. Managing director Mr Lukas Nafz said, “We are very lucky with our team and partner network and we appreciate the support. We also have the strong backing of our customers. Our goal is to continue building a lasting relationship with our partners in the region and strengthen our network.”
Debtor-in-possession proceedings are in-court restructuring proceedings to rescue and rehabilitate financially distressed companies. The company concerned is allowed to manage the restructuring process itself, supervised by an insolvency monitor and supported by restructuring experts with relevant experience in this field.
PLUTA expert
Steffen Beck
Rechtsanwalt, Fachanwalt für Insolvenz- und Sanierungsrecht
Jonas Scheble
Rechtsanwalt