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The printing company Druckerei Hertle GmbH has filed for the opening of insolvency proceedings relating to their assets. By its decision taken on 26 June 2018, the Local Court of Esslingen ordered provisional proceedings and appointed Mr Steffen Beck from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator. The company, based in Kirchheim unter Teck in Swabia, has 27 members of staff, whose salaries are guaranteed thanks to the insolvency substitute benefits.
The reason for filing the application is a liquidity shortfall and a drop in revenues, which primarily arose from the difficult conditions prevailing in the sector. Business operations are being continued without any restrictions. The provisional administrator now aims to find an investor for the long-established company. He will hold talks with interested parties in the next few weeks. “The customers and suppliers have remained loyal to the company. And the members of staff are also very motivated and are all pulling together with us. We will do our utmost to find an investor for the printing company,” commented Mr Beck, the PLUTA restructuring expert, who will be given support in the proceedings by Dr Matthias Lehr.
The PLUTA attorney Mr Steffen Beck already restructured another printing company as part of debtor-in-possession proceedings, based on an insolvency plan, two years ago. The printing company Hertle was founded as a family business in 1949. Since then, the company’s production has been constantly developed further. Today, the company uses state-of-the-art technologies in all areas to provide high-quality printing solutions. Their products include conventional print products, such as brochures, cards and posters, as well as digital and electronic media.