Heubach GmbH filed an application for the opening of regular insolvency proceedings over its assets with the competent insolvency court in Braunschweig.
The German company Heubach GmbH has recently announced that on Monday 22nd April 2024 it filed an application for the opening of regular insolvency proceedings over its assets with the competent insolvency court in Braunschweig (Germany). At the same time, it applied also for the jurisdiction of the Braunschweig insolvency court as the group court for the German subgroup of the Heubach Group.
The court is expected to appoint an insolvency administrator to examine the possibility of continuing business operations and possible options for restructuring and/or selling the business in due course. With this step, the company is reacting to the threat of over-indebtedness in the context of rapidly changing financial markets of the past two years and the unsuccessful attempt of achieving a financial restructuring with all shareholders and lenders.
The respective Heubach companies are working to meet their obligations
to employees, customers and suppliers within given financial possibilities and legal framework.