PLUTA Restructuring Expert Ilkin Bananyarli appointed as provisional Administrator for industrial Services Provider QSSL

The Local Court of Stuttgart has ordered provisional insolvency proceedings to be opened for the assets of the industrial services provider QSSL Industrieservice GmbH. Mr Ilkin Bananyarli, a restructuring expert from PLUTA Rechtsanwalts GmbH, was appointed as the provisional administrator on 7 February 2019. Filing for insolvency became inevitable for the company due to liquidity problems.

The company based in Fellbach near Stuttgart is a service provider active in the field of quality assurance and industrial services, mainly for the car industry, e.g. in the context of assembly work or logistics processes. QSSL has a workforce of 74 employees who work at the company’s sites in Fellbach, Stuttgart, Mannheim and Berlin.

“The salaries of the staff are guaranteed until the end of March 2019, thanks to specific insolvency substitute benefits,” said the PLUTA restructuring expert Mr Bananyarli. “We are now going to establish an initial overview of the situation. Business operations are being continued without any restrictions, and customers can continue to rely on the company’s high quality standards.” The restructuring team also includes the business lawyer Ms Marina Schulz and the business management expert Mr Michael Hieber.

QSSL Industrieservice GmbH, founded in 2005, is a full service provider in the field of top-level quality assurance, industrial services for such areas as assembly and logistics, as well as highly-specialised treatment of metal surfaces. The company’s range of services includes collecting the products directly from the customers’ premises, checking and, if necessary, reworking them, and delivering them to the recipients concerned. QSSL’s portfolio also comprises complex services for checking and sorting goods, rectification work and surface finishing. The company’s headquarters and the production facility are located in Fellbach near Stuttgart.

Mr Ilkin Bananyarli has extensive experience in restructuring companies and in insolvency administration. In 2018, he succeeded in finding an investor for the Gewa Tower in Fellbach. Moreover, he was also the administrator of several companies in the Stuttgart-based Häussler Group.