22 August 2018 – The Köttermann Group, specialized in laboratory steel furniture with headquarters in Uetze-Hänigsen near Hannover, has today filed an application for the opening of restructuring proceedings under self-administration with the local court in Gifhorn.
The company is advised by BBL Bernsau Brockdorff, a law firm specialising in insolvency law with strong advisory and administrative expertise. Justus von Buchwaldt and Dr. Rouven Quick, based at BBL offices in Hamburg, are appointed as general representatives to advise the company on all law-related matters. Mr. von Buchwaldt recently accompanied the restructuring process under self-administration of Beate Uhse as general representative.
Hans Fritsche of KSB INTAX v. Bismarck law firm supports the management as Chief Restructuring Officer. The court appointed Dr. Christian Willmer of WILLMERKÖSTER law firm as preliminary trustee of the restructuring proceedings.
Business operations continue without restrictions. Existing orders are being processed and new orders are accepted. The company has already initiated a restructuring process which will be implemented consistently. The reasons behind filing for restructuring procedures are liquidity shortfalls due to the difficult market situation and subsequent problems in sales.
The Köttermann Group designs and produces high quality laboratory furniture made of steel. The company has a workforce of 250 employees spread across Germany, France, Poland, Spain, Benelux, Great Britain and Switzerland. 200 of the employees are based at the headquarters in Uetze-Hänigsen. Globally the Köttermann Group sustains partnerships across Central and South America, Asia, Africa and the Middle East. Recently the total turnover was approximately 40 million Euros.
BBL is one of the leading law firms with a sole focus on reorganisation, restructuring and insolvency. The firm has extensive experience in complex restructuring projects both within and outside insolvency proceedings. More than 50 lawyers work at BBL nationwide in Germany and also in London.
Further information: www.bbl-law.de
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