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- Silvio Höfer from Anchor Rechtsanwälte appointed as provisional insolvency administrator
- Business operations continue without restrictions
- Crisis of the automotive industry as the cause of insolvency
Stendal/Hanover, 05.03.2025. Boryszew Kunststofftechnik Deutschland GmbH has been struggling with the effects of the crisis in the automotive industry for a long time and has run into economic difficulties. For this reason, the company from Gardelegen had to file for insolvency. The Local Court of the Hanseatic City of Stendal granted the application and appointed lawyer Silvio Höfer from Anchor Rechtsanwälte as provisional insolvency administrator. Together with his team, Silvio Höfer held talks with important business partners of the company immediately after the application was filed. The employees and the works councils were also informed about the current situation and the steps to be taken. As a result of these discussions, it was possible to ensure that production at both sites will continue unchanged. The salaries of the 495 employees are secured by the insolvency payments of the Employment Agency.
495 employees at two locations
Boryszew Kunststofftechnik Deutschland GmbH manufactures plastic and zinc die-cast components for the automotive industry. These produced parts are installed in car interiors, among other things. Customers are German automobile manufacturers (OEMs) and large suppliers (Tier 1, Tier 2). The main customer is the Volkswagen Group, either directly or through various brands. Boryszew Kunststofftechnik Deutschland has two locations. A total of 495 employees are employed there, 384 of them in Gardelegen (Saxony-Anhalt, 50 km east of Wolfsburg) and 111 in Idar-Oberstein (Rhineland-Palatinate).
Crisis of the automotive industry as the cause of insolvency
Over the past three years, the company’s turnover has fallen from just under EUR 69 million to around EUR 53 million and losses have been continuously recorded in the past. One of the reasons for filing for insolvency is the general crisis in the automotive industry. In the past, jobs have already been cut and material costs reduced. Despite these measures, it was not possible to stabilize the current situation in the long term.
Silvio Höfer: “We have a lot of work ahead of us”
The provisional insolvency administrator Silvio Höfer has also quickly sought contact with the most important customers to date. In addition, further restructuring measures are to be developed. “We have a lot of work ahead of us. The current difficult situation in the automotive industry is having a massive impact on suppliers. We will work together with management, the works councils and the creditors’ committee to find a viable solution for the future,” explains the provisional insolvency administrator Silvio Höfer from Anchor Rechtsanwälte.
Team Anchor Attorneys at Law
Lawyer Silvio Höfer (provisional insolvency administrator)
Lawyer Remo Kruse