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On 3 August 2020, the Local Court of Weilheim in Upper Bavaria ordered provisional insolvency proceedings for the assets of Cardio Fitness Center GmbH and appointed Mr Mirko Möllen from PLUTA Rechtsanwalts GmbH as provisional administrator.
The company had to file for insolvency due to liquidity problems. It was agreed with the new managing director, attorney Ms Susanne Fittkau, that the business would be kept closed for the time being in order to allow for urgently needed renovations on the fitness studio due to water damage. The company employs more than 30 staff and freelancers.
PLUTA expert Mr Möllen explained: “We have already had good discussions with the landlord. Our common goal is to ensure that there is still a fitness studio on these premises in the future.” With this in mind, the PLUTA team, which also includes attorney Mr Raphael Hemann, will hold further talks with a view to achieving a long-term solution.
Managing director Ms Susanne Fittkau explained: “I was appointed managing director of Cardio Fitness Center by way of a shareholder resolution on 27 July 2020. Shortly after this, I discovered that the company had substantial debt and was left with no choice but to file for insolvency immediately. We will support the provisional insolvency administrator to the best of our abilities over the coming weeks.”