Business News

Ad Hoc; Financing of schlott gruppe AG no longer safeguarded

Monday 17. January 2011 - Following the breakdown of negotiations with one of the company's investors at the end of last week, proposals put forward at a meeting with the company's banks for the purpose of securing additional funds for the sustained financing of schlott gruppe AG today also failed. Thus, the continuation of schlott gruppe AG as a going concern is no longer viable.

The Management Board of schlott gruppe AG must now swiftly assess the possibilities of rescuing the company by way of insolvency proceedings in order to secure as many jobs and assets as possible and ensure that competition within the market is safeguarded.