The Management Board of schlott gruppe AG (WKN 504630 / ISIN DE0005046304) has submitted an application to the District Court of Nuremberg for the commencement of insolvency proceedings on the grounds of financial insolvency and excessive indebtedness.
Additional applications submitted for all domestic Group companies
Following the breakdown of negotiations with one of the company’s investors at the end of last week, proposals put forward at a meeting with the company’s banks for the purpose of securing additional funds for the sustained financing of schlott gruppe AG today also failed. Thus, the continuation of schlott gruppe AG as a going concern is no longer viable.
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Heidelberg USA reports that Chris Raney has joined Heidelberg USA as Vice President, Packaging. Chris will report to James Martin, Senior Vice President, and will be responsible for Postpress Packaging, while Dan Maurer, Vice President, Postpress Product Management, will be totally responsible for all Commercial Postpress.
The McClatchy Company (NYSE: MNI) announced today it has contributed certain company-owned real estate to its qualified defined benefit pension plan. The real estate, including certain land and buildings, is located in Bradenton, Fla.; Charlotte, N.C.; Lexington, Ky.; Macon, Ga.; Myrtle Beach, S.C.; Olympia, Wash.; and Rock Hill, S.C., and has been valued by independent appraisals at approximately $49.6 million in total.
schlott gruppe AG has suffered a severe setback today in its restructuring process.
