Gerchgroup Files for Bankruptcy: The Q Project in Nuremberg and Consequences

Düsseldorf The Düsseldorf real estate group Gerchgroup has filed for bankruptcy as the next project developer. As the company announced on Wednesday evening, four umbrella companies of the nationwide project developer have submitted corresponding applications to the Düsseldorf District Court. The court had previously confirmed that the applications had been granted. First, the “Wirtschaftswoche“ reported about it.

Gerchgroup AG, Gerch Development GmbH, Marathon Beteiligungsgesellschaft mbH and Gerch Beteiligungen GmbH have each filed applications for judicial restructuring proceedings in self-administration. Initially, the individual real estate project companies from Gerch are not affected by the proceedings.

In contrast to a classic insolvency, the management remains on board with self-administration, but is assigned a so-called administrator. The lawyer supervises all management decisions and expenses of the company.

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