German kitchen manufacturer Neue Alno is in talks with two potential investors, according to reports in the German trade press.
The company filed for bankruptcy in self-administration on June 30 to help it reposition itself and find a new investor. Business operations are continuing and all the management remains in place.
Managing director Michael Spadinger is reported as saying that it is important that a decision is made “before the autumn fair”.
The report on the MöbelKultur website quotes Spadinger as saying that both investors are “super exciting” and are from an “international furniture business” that is “financially extremely potent”.
Kbbreview understands that the bankruptcy allowance for the 230 employees will be paid by the end of August.
The brand has been owned by European investment firm RiverRock since 2017 after Alno AG fell into administration earlier that year. It has been looking for investors for more than three months after Neue Alno reported a strong 2020.