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Stauden-Verkehrs-GmbH from Augsburg has filed for insolvency. On 11 January 2022, the Local Court of Augsburg then ordered provisional insolvency proceedings and appointed Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH in Augsburg as provisional administrator. The company had to file for insolvency due to liquidity problems.
Stauden-Verkehrs-GmbH conducts rail transport operations across Germany and into Austria and Switzerland – with a focus on connections in southern Germany. The company mainly operates construction traffic and local and long-distance goods transport routes. It also organises special passenger services. In addition, it provides shunting, traction, personnel and further services to other railway companies. The region’s well-known ‘Staudenbahn’ group of companies, which operates the rail network, the service centre for railway vehicles and more, is not affected by the application for insolvency.
Business operations to continue
Stauden-Verkehrs-GmbH employs nine people, whose salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. “Business operations will be maintained without restriction. All services will continue to operate,” said PLUTA attorney Mr Stemshorn.
“Together with my team, I am in the process of gaining a preliminary overview of the company’s financial situation. Furthermore, we have already held important discussions and taken initial decisions. Our goal is to find a sustainable solution for the company, for example through an agreement within the context of an insolvency plan,” added the provisional insolvency administrator. He is being supported in the restructuring team by Ms Ricarda Pfaffenzeller.
Goods sector slowly recovering from the pandemic
Demand for goods transport services is expected to increase in 2022, having already recovered significantly last year following very strong declines in 2020 on account of the coronavirus pandemic. Industry experts estimate that just under 20 per cent of goods shipments are transported by rail.
“The pandemic has had a major impact on rail freight services. Demand fell sharply at the beginning and has still not returned to its former level in spite of a recovery. This is challenging for operators. We will analyse the cost and sales structure and look at possible restructuring options. Insolvency proceedings offer good opportunities and tools for this,” said attorney Mr Stemshorn.