PALUX AG and other companies involved in debtor-in-possession proceedings – PLUTA attorney Ilkin Bananyarli appointed provisional insolvency monitor

After private investors (AURONA Capital GmbH and PENTAPART Beteiligungskapital GmbH) acquired a majority stake in GUSTATUS Holding GmbH in late October 2024, parts of the group had to file an application for debtor-in-possession insolvency proceedings, which was then approved by order of the Local Court of Crailsheim.

Attorney Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH was appointed provisional insolvency monitor and is being supported in the proceedings by attorney Mr Stefan Meyer. Management is being advised by restructuring experts Professor Dr Peter Neu and attorney Mr Thorsten Kapitza from law firm ATN d’Avoine Teubler Neu based in Cologne, who were appointed general agents.

The GUSTATUS Group develops, produces and distributes appliances and fixtures for professional kitchens in the world of hospitality and mass catering. Sales of around 50 million euros make it one of the market leaders in its segment.

The group, made up of the companies PALUX AG (Bad Mergentheim), PhoeniKs (Gelsenkirchen), Salvis AG (Oftringen, Switzerland) and SERVATOR ServiceLine GmbH (Igersheim), recently recorded sales of approximately 50 million euros and currently employs some 400 people. Around 85% of its products are manufactured by PALUX AG at its Edelfingen facility in the city of Bad Mergentheim. Its other products, especially those intended for mass catering, are manufactured at PhoeniKs Produktion GmbH in Gelsenkirchen. The group ensures technical services and the supply of spare parts for hospitality businesses and mass catering establishments all across Germany through SERVATOR ServiceLine GmbH based in Igersheim. In addition to PhoeniKs Vertriebs GmbH and PhoeniKs Produktion GmbH, PALUX AG, SERVATOR Service Line GmbH and an internal service company are engaged in the debtor-in-possession insolvency proceedings.