Business News
schlott gruppe: significant investor interest
Thursday 10. February 2011 - After considerable turbulence, schlott gruppe has returned to calmer waters. In coordination with the management team of schlott, provisional insolvency administrator Siegfried Beck has succeeded in stabilising the company's business operations. In parallel, the process of finding potential investors has now begun.
Many of the company’s principal customers had been quick off the mark to express their faith in schlott as a supplier. Additionally, key suppliers and service providers had confirmed their continued support of schlott gruppe, which allowed the company to keep production on track without major interruptions. As a result, schlott was able to ensure on-time delivery to customers even in the first days following its insolvency filing. Having returned to normality, the company’s sights are now firmly set on the future: the tendering process for the autumn/winter catalogues has now begun and schlott is among the candidates putting forward a bid.
In the meantime, the provisional insolvency administrator has initiated procedures relating to the sale of the company. “Our aim is to ensure a speedy sale so that the schlott companies can be guided towards a prosperous future as quickly as possible,” said Beck today in Nuremberg. “However, having secured debtor-in-possession financing, there is no need to rush; we have ample time to review all investors and their proposals with due care.”
Since the insolvency filing, several interested parties have come forward, among them both strategic and financial investors. Once indicative offers have been put forward, all interested parties will be given the opportunity to conduct due diligence reviews of the company. Within this context, the representatives of potential buyers will have access to a data room with all information relating to schlott gruppe. On completion of the due diligence review, the parties involved will have the chance to submit more specific offers. Subsequently, actual negotiations on the disposal of the company will commence.