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Following the decision taken today, the Local Court of Bielefeld has appointed the attorney Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH as the insolvency administrator of Brüggershemke + Reinkemeier KG. Previously, Dr Thiemann had acted as the provisional insolvency administrator of the company.
In the past weeks, he and his team have succeeded in firstly stabilising and then continuing business operations without any restrictions. All the customers are receiving their deliveries on time and have remained loyal to the company. Moreover, a profitability and liquidity plan has been drawn up and will be continuously updated as part of the further process of maintaining the company’s operations. Since the beginning of November, a comprehensive search for an investor has been taking place in consultation with the committee of creditors.
“On the whole, we can draw a positive interim conclusion today. We will focus our efforts on continuing talks with investors as part of the insolvency proceedings. I am basically confident that we will succeed in finding a long-term solution for the company,” commented Dr Thiemann.
André Brüggershemke will withdraw from the company now that the insolvency proceedings have been opened, while Horst Reinkemeier will remain in the company. Mr Brüggershemke plans to start a new career. He will personally say farewell to the staff on 2 December 2016.
Employees were informed about the current developments yesterday during a further staff meeting. They will also receive their salaries during the insolvency proceedings.
The family business was founded in Gütersloh in 1955 and developed from a paper wholesale company to a full-service wholesaler. In addition to dealing in paper and packaging materials, the range includes various products such as office supplies, disposable protective clothing, print products, specialist media and working clothes.
Brüggershemke + Reinkemeier KG only have commercial customers, both major companies and SMEs, whether resident in Germany or abroad.
The company is based in Gütersloh in the Westphalia region. In addition to the head office and production facilities, there is also a 45,000-square-metre storage facility, in which on average up to 50,000 articles are stored.