Kellermann GmbH insolvency in self-administration

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June, Tue, 2024
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Kellermann GmbH insolvency in self-administration

Kellermann continues restructuring under self-management

Aachen, June 18, 2024. Kellermann GmbH, a provider of high-quality motorcycle lighting, today filed an application for the opening of self-administered insolvency proceedings with the responsible district court in Aachen. The district court granted the application and ordered temporary self-administration.

This leaves the management around Dr. Stefan Wöste and Ulrich Bos are in office and authorized to act and issue instructions. The management will now be supported by the experienced restructuring expert and lawyer Markus Freitag from the law firm AndresPartner, who will accompany the company as a restructuring representative.

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In this role, he will ensure that all necessary restructuring and reorganization measures are planned and implemented within the company. “The most important message is that our business operations will continue without restrictions and that we will continue to serve all of our customers as proven,” says managing director Ulrich Bos, who, together with his managing director colleague, are accelerating the restructuring process that was initiated a few months ago for structural reasons using the instruments available within the framework of self-management becomes.

The most significant cause of the crisis and thus the background for the course now taken are the subsequent effects of the COVID-19 pandemic, during which the company experienced a significant drop in sales. The war in Ukraine, the ongoing consumer restraint, the significantly rising inflation and the resulting increased energy and sourcing costs have further significantly impacted the business situation.

Kellermann GmbH is also managed by the experienced restructuring lawyer Dr. Mark Boddenberg from Eckert Lawyers Tax Consultants Partnershipsgesellschaft mbB, who was appointed by the responsible local court as provisional administrator and in this role will monitor the management of the proceedings and protect the interests of creditors.

The 32 employees were informed today in Aachen by the management and the restructuring representative about the current situation and the next steps. Wages and salaries are secured for three months by the employment agency's insolvency benefit. Meanwhile, the shareholders have emphasized that they will stand by the company and continue to support the restructuring.

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Text: InDat.Info