PLUTA attorney Ivo-Meinert Willrodt appointed provisional administrator for F-TECH GmbH – business continuing to operate
F-TECH GmbH operates in the maintenance and industrial services sector. In particular, it carries out maintenance work on machines and test benches for customers. In addition to maintenance, repair and relocation of machinery, the company’s employees deliver expert advice and individually tailored solutions covering areas such as spare parts supply, automation and energy management. The business remains fully operational at this time and is continuing to fulfil ongoing customer orders.
The provisional insolvency administrator is currently conducting a comprehensive review of the company’s financial situation and examining options for securing its long-term operation. F-TECH GmbH’s economic difficulties are primarily attributable to a significant decline in workload due to short-term drops in demand and project postponements.
“The business is continuing to operate. In parallel to this, we are analysing its financial situation and working on developing a viable solution for the company,” said Mr Ivo-Meinert Willrodt. The provisional administrator will conduct the process of finding an investor over the coming weeks. Mr Willrodt added, “We have already held initial discussions with potential investors.”
Wages and salaries guaranteed
The company currently has 19 employees. Their wages and salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. “We are in the process of securing pre-financing of these with the Federal Employment Agency and are working hard to ensure their timely payment,” said attorney Mr Stefan Riegger. He is supporting the provisional insolvency administrator in the PLUTA restructuring team.
The next steps will depend on the outcome of the ongoing review and the discussions with all stakeholders. “This is not an easy situation, but we are making every effort with the provisional insolvency administrator to find a solution that will enable the continued operation of our business,” said managing directors Mr Christian Fuchs and Mr Harald Hell.