Two prominent furniture manufacturers have launched a structured process to attract investors after entering provisional insolvency proceedings. The companies, known for their bespoke designs and high-quality products, are maintaining full operations during this transitional period. Production continues at both sites, with efforts focused on fulfilling existing orders while securing future stability.
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The firms in question, Staud and Leuwico, filed for insolvency in late November 2024. Staud, based in Bad Saulgau, specialises in premium bedroom furniture and is particularly renowned for its innovative sliding door wardrobes. With origins dating back to 1653, the company has built a reputation for offering bespoke, high-quality designs. Leuwico, located in Wiesenfeld near Coburg, focuses on office furnishings and control centre furniture, delivering tailored solutions for over 100 years.
The district court in Stuttgart has appointed Dr Dietmar Haffa of Schultze & Braun as the provisional insolvency administrator, supported by Holger Blümle and Tobias Hirte. Pluta Management GmbH's M&A team has been engaged to oversee the investor process, with the goal of finding a suitable partner by February 2025.
Nikolaus Röver, Head of M&A Transactions at Pluta, remarked, 'We are reaching out to the market and beginning initial discussions with interested parties. These brands have significant heritage, and we are looking for an investor who can guide them into a successful future.' Röver is leading a team that includes Simon Eickmann, Luca Reifenberg, and Julian Scharr.
Despite the financial challenges, the management remains optimistic. 'The feedback from retailers and customers has been positive,' said Günther Berchtenbreiter, commercial director of Staud, and Nicolas Kammerer, managing director of Leuwico. 'With the right partner, we see strong prospects for our brands in the future.'
Restructuring efforts are further supported by Marc Trösser, Chief Restructuring Officer of the Vivonio Group, which owns both companies. Combined, the firms employ around 250 staff members, with approximately 150 at Staud and 100 at Leuwico. Both companies are continuing operations, ensuring customers receive their orders without disruption.
Leuwico recently showcased its control centre furniture at the PMRExpo trade fair in Cologne, where feedback from attendees was highly encouraging. This positive reception underscores the enduring appeal of the company's innovative designs, even amidst financial challenges.
As they progress through the investor search, the companies remain committed to their legacies of delivering customisable, high-quality furniture for homes and workplaces. The next few months will be crucial in determining their paths forward.
Source: www.moebelmarkt.de