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Lechner Implements Protective Shield Proceedings for Restructuring and Recovery

In the current situation, getting an already struggling company back on its feet is extremely difficult. Lechner has been insolvent again since Friday: This time, the Ansbach district court ordered protective shield proceedings that enable the worktop manufacturer to develop and implement restructuring measures under enforcement protection, while the previous management remains responsible.

Going to the insolvency court became necessary after orders at Lechner fell by more than 35 percent compared to the previous year. “Thanks to the protective shield that has been put up around our company, we can respond appropriately to the current difficult situation on the market. Among other things, the gloomy consumer mood and the tense situation in the construction industry have not given us the necessary time to reposition ourselves sustainably since the last crisis. With the current procedure we have the opportunity to accelerate the realignment and sustainable positioning of our company,” explains Florian Mitzscherlich, Managing Director of D. Lechner GmbH and adds: “The management would like to thank everyone involved for their commitment, especially the shareholder . Since the start of the takeover, he has provided non-mandatory financial support for the company and only through his commitment could the protective shield procedure be made possible. The first measures have already been successfully initiated.

As part of the protective shield procedure, the business operations of the traditional medium-sized company can be continued without restrictions. In addition, the continued payment of the salaries of the 320 employees is secured by the insolvency benefit for the months of October, November and December. The company’s restructuring team is also intensively examining all options that would allow a quick and permanent reorganization. The employees were already informed about the current situation at a meeting. The restructuring team is also in close contact with the works council.

Support for D. Lechner GmbH also comes from lawyer Joachim Voigt-Salus from the law firm Voigt Salus. He supports the company in the process as a general representative and is responsible for all questions regarding insolvency law and compliance with the relevant legal requirements. “The protective shield procedure gives a company the opportunity to restructure itself early and as a precautionary measure – without the burden of an acute crisis making it difficult to find a solution. The fact that the court ordered the protective shield here shows that it is convinced of the healthy core and the ability of the company to be restructured,” explains the general representative.

The Ansbach District Court again appointed lawyer Dr. Hubert Ampferl from the law firm Dr. Beck & Partners. Lechner Holding AG and D. Lechner GmbH had already filed for insolvency at the end of November 2021. With effect from March 1, 2022, the Livos Group took over the worktop specialist and brought it out of bankruptcy.

2023-10-23 21:43:49
#Lechner #Insolvent

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