Business News
Insolvency Zanders GmbH: restructuring process continues
Tuesday 03. July 2018 - After the request of the management of the Zanders GmbH for opening of in- solvency proceedings, Cologne District Court had first appointed lawyer Dr. Marc dAvoine to the appraiser on 22 June 2018 and then to the provisional insolvency administrator in the insolvency opening proceedings Zanders GmbH. In addition, enforcement measures are prohibited.
The restructuring process continues. Restructuring Director Igor Ferlan and external consultants manage Zanders in collaboration with lawyer d’Avoine and his team. Everyone involved is optimistic that they will be able to create a sta- ble future for Zanders.
In 1829 Johann Wilhelm Zanders founded the company in Bergisch Gladbach. Zanders still operates the Gohrsmühle paper mill there today. The applicant was exclusively a supplier of special papers until the end of the 1980s. As of 2012, there was a reorientation in the area of graphic mass papers. Overca- pacities in the paper market and the progressive digitization led to a consider- able fall in the price of paper products. In addition, the one-product strategy,
Dr. Marc dAvoine 1, 2 Oliver Teubler 3
Prof. Dr. Peter Neu 4 Dr. Christof Heußel 5 Robin Schmahl 3, 4 Thorsten Kapitza Dennis Kreuzer
Peter Mazzotti
Ignacio Ordejón Zuckermaier Claas Thien 5
Sebastian Haug 6
Paul V. Michels, Dipl.?Kfm. Susanna Ruß 7
Anke Ortmann
Anne Bölling
Martina Majewski
Leah Ngabi
Karl Neumann
Sebastian Thiel
Michael Schmidt?Modrow (2006)
Fachanwalt / Fachanwältin für
1 Steuerrecht
2 Handels? u. Gesellschaftsrecht
3 Arbeitsrecht
4 Insolvenzrecht
5 Erbrecht
6 Miet? u. Wohnungseigentumsrecht 7 Familienrecht
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Press release Zanders I 28 June 2018Seite 2
Pressemitteilung Zanders GmbH
under-utilized machinery, over-dimensioned infrastructure and brain drain have been major causes of the company’s crisis.
Following the acquisition of the company by the current shareholder mutares AG in May 2015, with the support of the employees important restructuring successes were achieved, a considerable part of the investment and repair bottleneck was eliminated and processes were significantly improved. Despite sales growth of an average of 12 percent between 2015 and 2017, price increases for the required raw materials (pulp, chemicals and coal for the company’s own power plant) had a negative impact on the way to restructuring. In the past 12 months alone, the cost of these raw materials has risen by more than 40%.
The assets of the capital assets of the Zanders company are currently being col- lected and evaluated in an objective manner. At the same time, an inventory is being carried out. Claims are recorded, examined and evaluated, which will take weeks to complete. The work on the business plan and the restructuring concept is underway, with an initial interim result expected by the end of July 2018. The mu- tares AG continues to support the restructuring in the interests of all involved.
Wages and salaries secured
Zanders currently employs about 500 employees and 22 apprentices. The busi- ness operations are fully continued in order to obtain the possibilities for a reorga- nization. The management and the workforce as well as key suppliers and custo- mers have already signaled support for the continuation and reorganization. Wag- es and salaries are secured through the insolvency payments up to and including August 2018. We will inform you soon about further insights and steps.