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By an order issued on 30 January 2018, the Local Court of Munich has appointed Mr Ivo-Meinert Willrodt from PLUTA as the provisional insolvency administrator for Uttlinger AG. The restructuring expert aims to give the traditional company good prospects of a successful future.
A total of 49 employees are working for the renowned Bavarian company, which is active in the ventilating and air-conditioning industry. The employee’s salaries are guaranteed for the next few months thanks to the so-called insolvency substitute benefits. “The employees are pulling together with us. I am therefore optimistic that we will find a solution for the company. We have already received first enquiries and have made appointments for discussions with potential buyers,” said the PLUTA expert Mr Willrodt.
Filing for insolvency became inevitable due to a liquidity shortage, which was due, amongst other things, to a strong increase in raw materials prices. Business operations are being continued without any restrictions, and all orders are being executed as planned. Customers can rely on the high quality of the company’s products.
Uttlinger sell ventilating and air-conditioning products at their three sites in Bavaria. Important components are produced by qualified experts in the company’s own production facilities. The company’s headquarters are in Munich, with additional production and sales activities in Regensburg and with a warehouse for product delivery and collection in Neu-Ulm.
Alongside Mr Willrodt, PLUTA’s team includes the attorney and business expert Mr Wolfgang Bernhardt.