Production at Alno AG has been temporarily suspended until a new investor has been found for the group, the company has announced.
Alno said that with production halted for Alno at its Pfullendorf factory, as well as for Wellmann in Enger and Pino in Coswig, new orders were not being taken at Alno or its subsidiaries.
Alno AG has admitted that the insolvency proceedings had been both complex and “extremely difficult” and said that the provisional insolvency administrator was under “high pressure” to find an investor solution.
Alno AG revealed that after numerous intensive discussions between the insolvency administrator and his team with key customers and suppliers, the matter could not be successfully concluded in the short-term with a solution to finance the business.
It said the focus was now on the ongoing sales process.
“I am very sorry for this development, as the rehabilitation and a possible new beginning under these conditions are made much more difficult,” said Prof Dr Martin Hörmann, temporary insolvency administrator of the ALNO companies. “Nevertheless, my team and I will do our utmost to find a continuation solution, preserve jobs and protect the interests of the creditors as much as possible.
“The bidding process, which has already begun in mid-August, is now to be stepped up so that a new investor, or new investors, can be found in the short-term. With new investors the way would be free for a new start.”
An Alno UK spokesperson told kbbreview that it is currently in close contact with all Alno UK dealers and in-toto franchisees.
- Are you an Alno or in-toto dealer? What do you think? E-mail us at email@example.com