Overview
- The District Court of Ulm opened the case and appointed Georg Jakob Stemshorn of Pluta as court supervisor.
- About 270 employees at Ulm, Karlsruhe and Ammelshain remain on the job as orders and supplier relationships continue.
- Payroll is secured for roughly three months via prefinanced insolvency benefits from the Federal Employment Agency.
- CEO Ulrich Braig says management will use the court framework to stabilize the company and pursue restructuring.
- The company cites a construction slump, higher interest costs and the loss of Siberian larch due to the Ukraine war, while Bild reports unconfirmed talks with potential investors.