Overview

• The Baden-Baden district court accepted the Sept. 3 filing and named Dirk Pehl of Schultze & Braun as provisional insolvency administrator.
• Production at the Gernsbach site continues, with wages guaranteed for up to three months through insolvency pay.
• Management attributes the financial distress to Germany’s broader economic situation and says the filing was intended to avert greater harm.
• The company employs about 160 people and is regarded as one of the region’s largest employers.
• Leadership is seeking an investor or partner and plans to involve employees closely in the restructuring process.