Kettler and Kettcar: bicycle company declares bankruptcy – SPIEGEL ONLINE

Kettler wants a realignment, the Kettcar maker has therefore filed a bankruptcy procedure on their own. The operations run without restrictions, said the family business. The bankruptcy petition is to protect the company become necessary in order “to avoid uncoordinated takeover by a private equity firm and put the company back” the.

Again and again firms recur on insolvency proceedings on their own. The aim is usually a reorganization, not liquidation. More recent examples are the television manufacturer Loewe or the bicycle company Mifa. The Executive Board will then remain in office, but its a so-called trustee is provided from the outside to the side. The old management thus retains much of the control over the company. At the same time the company is, however, protected from creditors’ enforcements and sanctions. In case Kettlers the Arnsberg District Court appointed the insolvency expert Christoph Schulte-Kaubrügger of the law firm White & amp; Case for provisional administrator.

Kettler had experienced in the decades after World War II in Germany a steep climb. Among the biggest successes the Kettcar belonged. In addition, the company takes can claim to have brought the world’s first aluminum bike on the market. The offerings range of fitness equipment today on bicycles and toy vehicles up to leisure and outdoor furniture. The company from the Sauerland Ense employed in Germany alone, around 1,100 people.