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Insolvency administrator Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor solution for Bullyland GmbH. The toy manufacturer’s business operations have been sold to the newly established Bullyworld GmbH.
The purchase agreement was signed back in March 2019. “The licensing agreements have had to be transferred to the new legal entity in order for the takeover of the business to go ahead. This whole process has been very complex and therefore taken longer,” said the restructuring expert Mr Pluta, who is being supported in the proceedings by the business management expert Mr Andreas Hummel. For legal reasons, the solution involving an investor cannot be officially communicated until all licensing agreements have been transferred.
New location for Bullyworld operations
The sale of the business provided for a move to new premises in Bavaria, which has now gone ahead. The insolvency administrator Mr Pluta has already sold the property in Spraitbach. An entrepreneur based in Spraitbach will expand his business there and create new jobs.
The Eberl family, which has very successfully managed several companies all across Germany for more than 50 years, is pleased with the company’s growth.
The managing director Mr Thomas Eberl said, “We are convinced and impressed by Bullyland’s figures and are really looking forward to getting the Bullyland brand back on the right track again together with our existing and new employees. Our location here by the beautiful Lake Chiemsee offers everything we need to succeed in this. We can also make effective use of existing synergies here. We would like to thank PLUTA for its valuable cooperation.”
In late 2018, the Local Court of Aalen opened insolvency proceedings for the assets of the toy manufacturer from Spraitbach, in the federal state of Baden-Württemberg, and appointed Mr Pluta as insolvency administrator. Since the application was filed, he has kept the business going together with the PLUTA restructuring team. The process of finding an investor was supported by M&A experts from IMAP.