PLUTA attorneys to restructure automotive supplier Allgaier

The Local Court of Göppingen today ordered provisional insolvency proceedings for the assets of the Allgaier Group’s operating companies and appointed several attorneys from PLUTA Rechtsanwalts GmbH as provisional administrators.

Restructuring expert Mr Michael Pluta has been appointed provisional administrator for Allgaier Automotive GmbH, the largest company in the group, which has around 1,200 employees at its headquarters in Uhingen in the federal state of Baden-Württemberg. Attorney Mr Michael Wahl has been assigned as administrator to Allgaier Process Technology GmbH in Uhingen, while attorney Mr Heinz-Joachim Hombach (Leipzig) has assumed responsibility as administrator for Allgaier Sachsen GmbH in Oelsnitz. Another company, Mogensen GmbH & Co. KG in Wedel in the federal state of Schleswig-Holstein, has been placed under the provisional administration of attorney Mr Christian Heim (Hamburg).

Mr Fritz Zanker, who has been appointed provisional insolvency administrator for the group’s holding company, Allgaier Werke GmbH, will coordinate the PLUTA team’s work. The team also includes PLUTA attorneys Dr Dieter Schmid and Dr Christian Kaufmann as well as Mr Helmuth Rauscher and Dr Sebastian Knappe from acta Management AG.

The automotive supplier’s business is continuing to operate at all locations without any restrictions. The salaries of all employees are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. The PLUTA team informed the employees about the current situation today in a staff meeting in Uhingen and assured them that operations will be maintained and customers will continue to be supplied. In addition, all employees were called upon to support the efforts to be undertaken. This announcement was met with resounding applause.

Good prospects of a successful future

Attorney Mr Michael Pluta said, “The workforce is very motivated. We will work closely together over the coming weeks and review all restructuring options that can offer the entire group good prospects for the future. We are engaging intensively with the group’s clients to coordinate the delivery of supplies to them and, above all, avoid production stoppages at their works.”

The Allgaier Group has established itself as a partner to the international automotive industry and also develops standardised and customised solutions for the process engineering sector. The group’s operating business is distributed across two divisions, Allgaier Automotive and Allgaier Process Technology.

The automotive supplier has a total workforce of around 1,600 people in Germany and approximately 2,000 on a global scale. The group’s foreign subsidiaries are not involved in insolvency proceedings.