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With its decision of 1 April 2016, the Local Court of Munich appointed Mr. Stephan Ammann from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator of the cardboard manufacturer Feinpappenwerk Gebr. Schuster GmbH & Co. KG.
Together with his team, Mr. Ammann has already been able to obtain an initial overview of the situation. The PLUTA attorney explains: “We will continue business operations. The traditional company has good prospects for the future. I am happy to say that the employees are all pulling together with us.”
The company, which is also known under the name “SCHUSTER-Karton”, has already been going through a comprehensive restructuring process in the past few years. This process is to be continued as part of the insolvency proceedings. The provisional insolvency administrator also arranged for a pre-financing of the so-called insolvency substitute benefits. Thanks to these insolvency substitute benefits, employee salaries are secure for a period of three months. Currently the company has 115 employees.
The company produces high-quality cardboard from recycled paper. SCHUSTER cardboard is used, for example, for boxes which come into direct contact with food, for the production of small boxes and envelopes, for use in the textile industry, for compartments and interlayers, for use in the bookbinding industry as well as for high-end applications in the electrical appliances industry. The company is well known in this sector for its high quality standards. Its decentralised distribution structure guarantees short delivery periods.