Overview
- A court in Ulm opened self-administration proceedings and appointed Georg Jakob Stemshorn of Pluta as the administrator.
- The 160-year-old wood specialist continues production at sites in Karlsruhe and Ammelshain, with administration in Ulm, covering about 270 jobs.
- Payroll is secured for roughly three months through insolvency benefits prefunding provided via the Federal Employment Agency.
- The company cites a sharp drop in building activity, fewer housing permits, higher refinancing costs from rising interest rates, and the loss of Siberian larch supplies linked to the war in Ukraine.
- Leadership is seeking investors to support a court-supervised turnaround, with German media reporting that discussions are already underway.