Business News

Ad Hoc: schlott gruppe: continuation under provisional insolvency proceedings secured

Tuesday 01. February 2011 - schlott gruppe will be able to continue trading during the preliminary insolvency proceedings. Following negotiations lasting several days, the insolvent group's banks and the provisional administrator Siegfried Beck have now reached agreement on a special loan similar to debtor-in-possession financing. T

his gives Beck the capital needed to maintain the group’s business operations for the foreseeable future, i.e. beyond the opening of insolvency proceedings at the beginning of April, and time to work with schlott gruppe’s management board on a possible rescue package for the printing and media group. Regardless of the current insolvency proceedings, both production and customer deliveries remain on track.