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The restructuring expert Mr Michael Reichold from PLUTA Rechtsanwalts GmbH was appointed as the provisional insolvency administrator for the company Kreder Neon Stuttgart GmbH based in Schwieberdingen near Stuttgart on 19 July 2017. The attorney has already been able to obtain an initial overview of the situation that the company is in and is continuing the full scope of business operations.
Michael Reichold said, “The business operations of the long-established company are continuing as usual. We intend to complete all the existing and the new orders. My goal is to give the company good prospects of a successful future. We will therefore hold talks with potential investors in the near future.”
The company filed for insolvency in the wake of intense competitive pressure in the illuminated advertising sector and a drop in revenues in recent years. Currently the company has 11 employees, whose salaries are secure for a period of three months thanks to the so-called insolvency substitute benefits.
The company, which was founded in 1950, is a specialist in illuminated advertising. It offers consulting, design drawings, production, installation and service – the full range from a single source including its own glass blowing facility. The range of products offered by Kreder Neon Stuttgart covers the full scope of outdoor advertising – from advertising panels, illuminated transparencies, pylons, LED and neon letters to large-format, rotating advertising systems.