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Diedrich Meyer GmbH & Co. KG, a forwarding company based in Bremen, has filed for insolvency. Following this, on 14 December 2020, the Local Court of Bremen ordered provisional insolvency proceedings and appointed Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional administrator.
The business will continue operating as usual while observing the stricter hygiene requirements in place. Dr Kaufmann said, “All existing orders will be dealt with as normal and new orders are being taken. Everyone involved is highly motivated.” The salaries of the 28 employees are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. Working together with his PLUTA team, which includes attorney Mr Soeren Eckhoff and business management expert Mr Jürgen Schendel, the restructuring expert is now in the process of gaining an overview of the long-standing forwarder’s financial situation. The company has had to file for insolvency due to liquidity problems caused by declining sales attributable to the coronavirus pandemic, which have led to knock-on payment delays.
Coronavirus pandemic poses challenge to the industry
Dr Kaufmann, manager of the PLUTA branches in Bremen and Oldenburg, has extensive experience in restructuring companies – including many businesses operating in the logistics sector. He is currently provisional administrator for forwarder Lottmann GmbH & Co. KG, for example. Furthermore, he also supported the proceedings of heavy-duty haulage company W & F Franke Schwerlast Internationale Spedition GmbH from Bremen.
“The entire transport sector is currently facing major challenges. The situation in road freight transport is improving in spite of the pandemic – logistics companies operating in certain areas in particular are seeing an increase in demand. Other sectors and branches of industry, however, are taking longer to recover. Good service is therefore all the more important. Companies have no choice but to adjust to the changed conditions: a solid liquidity position and a good mix of offerings are all part of this. The onus is now on us to come up with a sound concept for restructuring this company,” explained PLUTA attorney Dr Kaufmann.
Forwarder with more than 120 years of experience
Diedrich Meyer GmbH & Co. KG, a forwarding company based in Bremen, has been in business a long time, having been founded back in 1897. The company specialises in container transports on lorries with tipper chassis.
Its services include the short-haul and long-haul transport of containers and bulk materials, for example. Moreover, it also offers the storage and unloading of shipping containers and palletised goods at its open depot in Bremen. Many of its clients are well-known logistics companies or are involved in coffee storage or refinement.
PLUTA helps companies in legally and economically difficult situations. Since the company was founded in 1982, PLUTA has constantly grown and today has a staff of approximately 500 employees in Germany, Spain and Italy. More than 290 business and management experts, attorneys, business lawyers, tax consultants, public auditors, certified accountants, economists, banking and bookkeeping experts, engineers and insolvency administration specialists, many with multiple qualifications, ensure practicable and economically sound solutions. In particular, PLUTA provides support in restructuring companies affected by a crisis or insolvency and in continuing business operations, if necessary by involving restructuring experts in a responsible role. PLUTA is one of the top enterprises specialising in restructuring and turning around companies, as demonstrated by rankings and awards from INDat, JUVE, The Legal 500, Who’s Who Legal, brandeins, Wirtschaftswoche, Focus and ACQ 5 Law Award. Further information at www.pluta.net.