On 21 February Holz Design Moers, which was established within the scope of a transferor rescue operation on 1 September, submitted an application to Kleve district court for restructuring in self-administration. The drop in turnover caused by the new lockdown from mid-December onwards, which had affected both the DIY and the builders’ merchant sector, was stated as a reason for this move. According to managing directors Sven Schlayer and Fernando Soler Wittke, the pre-lockdown period of regular business activity, which only lasted a little over three months, was not long enough to build up sufficient reserves to cope with the current business restrictions.
The planned restructuring measures are to be coordinated by the current management. The aim is to sell the company; an investor process to this effect has already been initiated. This M&A process is being conducted via consultancy company Montag & Montag, which specialises in projects for companies in special circumstances. Thomas Ellrich from the Cologne branch and Dr. Franz Zilkens from the Düsseldorf branch of law firm Voigt Salus have been commissioned as consultants for restructuring proceedings. Kleve district court has appointed lawyer André Dobiey of law firm Nierung Stock Tömp as preliminary trustee. Business operations of Holz Design Moers, according to company information, have continued uninterrupted since filing of the application for insolvency proceedings. Wage and salary payments of all 155 employees are secured by insolvency fund money until the end of April.
