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Touratech Insolvent ?

Discussion in 'Clothing, Gadgets & Equipment' started by aero, Aug 12, 2017.

  1. For people that don't speak German this is what the article says:

    On 10 August Touratech filed an insolvency petition with Villingen-Schwenningen. "To the provisional insolvency administrator was appointed lawyer Dr. Dirk Pehl by Schultze & Braun," according to the press release.

    The approximately 400 employees of Touratech AG today came together to form a company meeting and were approved by the Management Board and the provisional insolvency administrator Dr. Dirk Pehl on insolvency. The business operations continue unchanged. Wages and salaries are paid.

    In the press release, the reason for this is: "The reason for the insolvency is the delayed implementation of the new building, which was necessary because of increased demand. The resulting difficulties with logistics and production as well as the considerable loss of production and supply led to insolvency . "

    The provisional insolvency administrator will now provide an overview of the economic situation of Touratech AG and examine restructuring options. "Touratech has already devised initial plans for a refurbishment concept with its consultants before the application for insolvency," says Pehl after his first survey. "The first thing we need to do is to implement the restructuring that has begun and to develop opportunities to put the company on a healthy financial and economic footing so as to preserve the location and jobs as much as possible," continued Pehl.
     
  2. Does that look like they are about to go under, write off their debt then reset the company up again under a different touratech name variation almost immediately? It's just it looks like they are using bankruptcy/liquidation laws to rejiggle their finances.
     
  3. We're doing so well we needed a spanking new premises to keep up with demand but we didn't build it in time so we've gone bust..

    Noobies explanation is more persuasive.
     
    • Like Like x 1
  4. Torateque?
     
  5. Torytech. Sounds like one of their plans...
     
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