Press Releases

As was hoped, LOOPING GROUP is in a position to announce a new strong partner in time for the opening of insolvency proceedings. Isartal Health Media, a subsidiary of the Wort & Bild publishing group, is to join as a shareholder, thereby securing the communications agency’s future. The current shareholders will remain on board.

Insolvency administrator Mr Michael Wahl from PLUTA Rechtsanwalts GmbH yesterday signed a purchase agreement for Allgaier Process Technology GmbH. The new owner is STAFAG International GmbH based in Mülheim, the holding company for a medium-sized group that includes SIEBTECHNIK GmbH. This means the PLUTA team has succeeded in rescuing the company at the last minute, as the transaction had to be concluded prior to Christmas on financial grounds.

The Weltbild D2C Group is to acquire the KLiNGEL brand Vamos effective 31 January 2024. The intention behind this acquisition in the area of healthy footwear is to further expand the product offering under Weltbild’s Orbisana brand. This underscores the multichannel retailer’s increased commitment to the healthcare segment. Back in July, the group already purchased Groundies, a brand of barefoot shoes.

For KLiNGEL, this represents another successful brand transaction within its ongoing debtor-in-possession proceedings. KLiNGEL’s creditors’ committee has unanimously approved the transaction.

Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH, acting in his capacity as provisional insolvency administrator for Backsinfonie GmbH, has launched a process of finding an investor for the wholesale bakery. He is confident that a financially strong investor will be interested in preserving this business with its traditional approach and high standards.

Mr Stefan Conrads from PLUTA Rechtsanwalts GmbH, provisional insolvency administrator for Harenberg GmbH, is working with management to find an investor for the renowned publishing house. The company, which has been publishing the well-known buchreport magazine for more than 50 years, filed for insolvency due to liquidity problems.

devolo GmbH has initiated debtor-in-possession restructuring proceedings. The Aachen-based company is aiming to reposition itself for the future. Business operations are continuing without any restrictions. The supply of goods is guaranteed.

The KLiNGEL Group has announced a further sale as part of its debtor-in-possession proceedings: effective 1 February 2024, K - Mail Order GmbH & Co. KG will sell the well-known KLiNGEL brand to Bruno Bader GmbH + Co. KG. The purchase agreement has already been signed by the parties. The transaction includes not only the brand but also the associated customer addresses and domains and has already been approved by the creditors’ committee.

The creditors’ assembly unanimously approved today the insolvency plan in the windeln.de SE insolvency proceedings. Restructuring expert Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH had drawn up the plan in recent months together with attorney Mr Wolfgang Bernhardt and submitted it to the Local Court of Munich. The plan presented by the insolvency administrator in accordance with his right of submission under sentence 1 of section 218(1) of the German Insolvency Code (InsO) puts the creditors in a better position.

Trender Jeansmode GmbH & Co. KG based in Sindelfingen and 12 operating subsidiaries have filed for debtor-in-possession proceedings with the Local Court of Stuttgart. The court approved the application on 7 December 2023 and then ordered provisional debtor-in-possession proceedings for the group’s assets. Attorney Mr Steffen Beck from PLUTA Rechtsanwalts GmbH is supporting the repositioning in his capacity as chief restructuring officer (CRO). Attorney Dr Sebastian Mielke from law firm Menold Bezler in Stuttgart has been appointed provisional insolvency monitor to oversee the proceedings in the interests of the creditors.

While restructuring as a debtor in possession, M+W Messe- und Werbeservice GmbH will be advised on legal matters by law firm BBR Buchalik Brömmekamp Rechtsanwälte and on business issues by management consultancy plenovia. Both are based in Düsseldorf and will support the company during its provisional debtor-in-possession proceedings. M+W is aiming at continuing its restructuring within the framework of the debtor-in-possession proceedings now initiated. Management filed a corresponding application with the Local Court of Mannheim on 27 November 2023. The court approved the application, ordered provisional debtor-in-possession proceedings and appointed Ms Heike Metzger from PLUTA as provisional insolvency monitor.

Following the sale of HAPPYsize, the KLiNGEL Group will also sell the MIAMODA brand to the family-run Popken Fashion Group. The well-known investor will acquire the plus-size brand from K - Mail Order GmbH & Co. KG effective 1 January 2024.

Insolvency administrator Mr Florian A. Zistler from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor for the insolvent Urlbauer Haustechnik GmbH & Co. KG. With effect from today, the operations of the family-run business will pass to the well-known company BayWa Haustechnik GmbH. All remaining staff have been offered continued employment. In total, around 115 jobs within the group will be saved.

Limes-Apotheke, managed by Mr Boris Haluszczynski, a registered trader (e. K.), has made a positive announcement. Following the filing of an application to open debtor-in-possession insolvency proceedings in late August, those proceedings were successfully launched on 1 November 2023. Supported by attorneys from well-known law firm FNB in Aalen and experienced Ulm-based attorney Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as insolvency monitor, the pharmacy is now seeking to fully restructure itself financially.

Good news in the insolvency proceedings for temporary employment agency SUNTEC GmbH Industriedienstleistungen based in Porta Westfalica: the creditors’ assembly has approved the investor solution negotiated by insolvency administrator Dr André Wehner. Tempton Personaldienstleistungen GmbH will manage the business going forward. All 12 jobs have therefore been saved and the Porta Westfalica office will be maintained. Tempton has also already made its first investments at the location.