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Kitchen design firm Küchen Quelle GmbH has filed for insolvency with the Local Court of Nuremberg. The court assented to this application on 25 November and appointed attorney Mr Patrick Meyerle from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator.
This step had become inevitable for the company due to the difficult economic situation it had been faced with as a result of a huge hike in the cost of raw and other materials and energy. Added to this were delays in obtaining electrical appliances on account of supply chain disruption. The average lead time for new kitchens, from the ordering phase and the delivery of materials and appliances through to installation at the customer’s premises, had risen from four to more than six months, leading to further cost increases. These enormous burdens, together with a change in customer purchasing behaviour due to the war in Ukraine and high inflation in Germany, are affecting the entire furniture and kitchen industry.
Küchen Quelle GmbH currently has a workforce of some 300 people, who were informed by management in a staff meeting about the necessity to undergo a restructuring process. Their salaries are guaranteed for the next three months thanks to specific substitute benefits provided under German insolvency law.
Provisional insolvency administrator Mr Patrick Meyerle is already on site with the company, working to gain an overview of its economic situation as quickly as possible. He said, “Küchen Quelle GmbH will remain operational. Together with management, we will now hold important talks with business partners and customers. After that, we will be in a position to provide information about the next steps to be taken.”
Top priority is now being given to customer orders already in processing. Over the next few days, the provisional insolvency administrator and his PLUTA team will identify the conditions required to provide customers with their kitchens as ordered. Alongside Mr Patrick Meyerle, the team also includes attorneys Mr Peter Roeger and Mr Daniel Barth as well as business lawyer Mr Holger Christian Buehler.
Customers can find information on the current status and on how open orders will be dealt with on the Küchen Quelle GmbH website at kuechenquelle.de.
In the event of questions, customers can call Küchen Quelle GmbH staff directly at 0911 - 50 730 500 or send an email to email@example.com
Rechtsanwalt, Fachanwalt für Insolvenz- und Sanierungsrecht
Rechtsanwalt, Fachanwalt für Insolvenz- und Sanierungsrecht, Wirtschaftsjurist
Rechtsanwalt, Wirtschaftsmediator (CVM)
Holger Christian Buehler