It was recently announced that furniture manufacturers Staud and Leuwico had officially requested insolvency proceedings at the Stuttgart District Court. The process to find investors has begun immediately, and the wages of the approximately 250 employees are secured until the end of January.
Photo: Dreamstime.
Reports have now announced that both companies will continue with production and shipments to their dealers. Dr. Dietmar Haffa, from the law firm Schultze & Braun, has been appointed as the provisional insolvency administrator.
In this role, Dr. Haffa will assess potential restructuring options for the companies, aiming to find a sustainable path forward for Staud and Leuwico.
The companies now plan to search for investors to take over their operations.
Dietmar Haffa, Gernot Mang, Managing Director of Staud, and Nicolas Kammerer, Managing Director of Leuwico, commented that with the right partner, the management team believed there was still a market for Staud and Leuwico furniture, both in Germany and internationally. Our main priority is to continue fulfilling existing orders.
Employees, suppliers, and customers have been informed of the situation and have expressed support for the restructuring efforts.
Source: www.moebelmarkt.de