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German Alno group set to go out of business

08.12.2017 − 

The process to find an investor for insolvent Alno group has not reached a successful conclusion: the final remaining bidder did not submit an offer by the deadline. Unconfirmed reports indicate that Hörmann had recently held talks with the Chinese property developer Country Garden Holdings to find a solution to keep the site open. Primarily active in project business, the company had reportedly been interested in supplying high-quality kitchens in China.

A large number of investors had previously dropped out of the running. The administrator said that a buyer would have needed to provide considerable funds to make up for the backlog of investments and continue operating. Professor Martin Hörmann announced the termination of the sale process and final end of operations in Pfullendorf on 24 November 2017.

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