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You are here: Home1 / Fintyre Group

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Fintyre in talks with “potential new investors”

News

Fintyre, the large but troubled European tyre distribution enterprise, has confirmed that it is talking to “potential new investors” in a statement designed to clarify its ongoing position “given the events that have taken place in the last few months”.

Read more

Related news:

  1. European FinTyre Distribution buys Reifen Krieg
  2. Fintyre platform company acquires Reiff Reifen & Autotechnik
  3. Fintyre to open London head office
  4. EfTD rebrands as Fintyre Group
27th May 2020/by Chris

Buyers found for 2 more Fintyre businesses in Germany

International News

A week ago, Bridgestone announced its acquisition of 42 Reiff Reifen und Autotechnik retail outlets in Germany from the now-bankrupt Fintyre Group business. The insolvency administrator handling the Fintyre case reports that buyers have also been found for two further Fintyre businesses, Duro Reifenservice GmbH and Reifen24 GmbH.

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Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. End of the line for German tyre wholesaler RS Exclusiv
  3. Some Fintyre companies operating again in Germany
  4. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
11th May 2020/by Stephen

End of the line for German tyre wholesaler RS Exclusiv

International News

Some ten weeks ago, German tyre wholesaler RS Exclusiv Reifengroßhandel GmbH entered insolvency as part of the Fintyre Group’s operations in Germany. It now seems that the company’s days are numbered. The insolvency administrator’s office confirmed the sale of RS Exclusiv’s headquarters site north of Hamburg to our German partner magazine, Neue Reifenzeitung. The wholesaler has quarter of a year to pack its things and go. But the insolvency administrator also reports another, more cogent reason for winding up the business.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. Buyers found for 2 more Fintyre businesses in Germany
28th April 2020/by Stephen

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

Company News, International News

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Some Fintyre companies operating again in Germany
  4. Fintyre’s insolvent businesses: All unpaid employees now receiving benefits
2nd April 2020/by Stephen

Fintyre insolvency: Investors look at companies

International News

According to Sebastian Brunner, spokesman for the provisional insolvency administrator handling the Fintyre Group case, a number of parties have already expressed interest in acquiring individual companies belonging to Fintyre’s insolvent German operations. These potential investors have already inspected the companies in question or will do so in the near future. “We hope to already have binding offers on the table in April and then be able to enter into negotiations,” said Brunner.

Read more

Related news:

  1. Fintyre insolvency: New month, no pay
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. End of the line for German tyre wholesaler RS Exclusiv
  4. Buyers found for 2 more Fintyre businesses in Germany
31st March 2020/by Stephen

Some Fintyre companies operating again in Germany

Company News, International News

The insolvency administrator handling the case of 16 Fintyre Group companies in Germany reports further progress. Miguel Grosser from law and insolvency administration firm JAFFÉ states that 31 TyreXpert, Secura and Duro retail outlets are selling tyres again and providing a full range of customer services. Other centres, including those belonging to Reiff Reifen und Autotechnik, can operate on a “restricted” basis but not sell new products.

Read more

Related news:

  1. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Fintyre insolvency: New month, no pay
  4. Search for Fintyre investor begins as employees receive insolvency benefits
6th March 2020/by Stephen

Fintyre insolvency: New month, no pay

Company News, International News
Reiff

Hundreds of people employed by Fintyre Group subsidiaries in Germany didn’t receive their wages or salaries for January, and it looks like this unhappy situation occurred again a month later. Disgruntled employees have contacted our German affiliate to confirm the lightness of their bank accounts, but apparently, they’ll soon become weightier.

Read more

Related news:

  1. Some Fintyre companies operating again in Germany
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. End of the line for German tyre wholesaler RS Exclusiv
  4. Buyers found for 2 more Fintyre businesses in Germany
3rd March 2020/by Stephen

Fintyre’s insolvent businesses: All unpaid employees now receiving benefits

Company News, International News

All employees of the Fintyre Group’s 16 subsidiary companies in Germany who didn’t receive their wages or salaries for January have now received insolvency benefits – which Fintyre will ultimately pay for, one way or another.

Read more

Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
26th February 2020/by Stephen

Search for Fintyre investor begins as employees receive insolvency benefits

Company News, International News

It’s still early days for Fintyre’s insolvency proceedings in Germany, but some progress has been made. The insolvency administrator appointed to the preliminary insolvency proceedings for 16 Fintyre Group companies reports the appointment of a committee of creditors. This committee will work with a “leading international transaction consultant” to find a new investor for Fintyre. At the same time, some of the Fintyre employees who weren’t paid salaries or wages for January have now received insolvency benefit payments.

Read more

Related news:

  1. Fintyre’s insolvent businesses: All unpaid employees now receiving benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
18th February 2020/by Stephen

Fintyre Group employee pay ‘coming’, restarting business operations a priority

Career Tracks, Company News, International News, Premium

All 16 companies in the German Fintyre Group have now applied to open insolvency proceedings. But what lies ahead for the 1300-plus employees awaiting wages and salaries, the affected companies’ creditors, and the companies themselves? Sebastian Brunner, spokesman for Miguel Grosser, the provisional insolvency administrator at law firm Jaffé, told our sister website in Germany, Reifenpresse.de, that approximately 200 Reifen Krieg employees will receive their outstanding January wages and salaries in the coming days. Business at the group’s wholesalers and retailers is largely at a standstill, though the office of the provisional insolvency administrator has some more positive news on this too.

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Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  4. End of the line for German tyre wholesaler RS Exclusiv
14th February 2020/by Andrew

Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”

Company News, International News

They are resigned, angry and desperate. But above all, they’re disappointed. Disappointed that they weren’t informed about the bankruptcy by their employer Fintyre, but by the media. Our sister publication in Germany, Neue Reifenzeitung, has spoken with staff at TyreXpert outlets in the north of the country to gain an insight into the mood of the workforce.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
14th February 2020/by Stephen

Fintyre Group’s Reifen Krieg files for bankruptcy

Company News, International News

German tyre distributor Reifen Krieg GmbH, part of the Fintyre Group of companies (Fintyre) active in tyre distribution and retail in Germany and Italy, filed bankruptcy proceedings on the evening of 6 February in Frankfurt, with lawyer Miguel Grosser appointed trustee. Tyrepress reported on Monday that the group’s chief executive officer, Claudio Passerini – who is also the CEO of the group’s umbrella organisation in Germany, Fintyre Group GmbH – had written to Fintyre’s German employees to inform them of restructuring necessary for the short-term to ensure its sustainable continuation in the wake of missed salary payments in January.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. German Fintyre Group almost completely in bankruptcy
  4. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
7th February 2020/by Andrew

Restructuring announced as Fintyre Group misses January wages

Company News, International News

The Fintyre Group has grown considerably since Bain Capital first acquired Italian tyre wholesaler Fintyre early in 2017, but what does the future hold? Tyrepress.com understands that the company has told its employees in Germany that a restructuring of the Fintyre Group is taking place, and that this measure is now being felt in a very tangible way.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. European FinTyre Distribution buys Reifen Krieg
  3. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  4. EfTD rebrands as Fintyre Group
3rd February 2020/by Stephen

Fintyre Group names Passerini as CEO

Career Tracks, Company News, International News, UK News

Having recently rebranded as Fintyre Group, the European tyre distribution specialist reports that it is also implementing a leadership succession plan.

Mauro Pessi will continue to be involved as executive chairman. As a board member the company says he will contribute to the long-term strategic direction of the company, working in close cooperation with Bain Capital.

Read more

Related news:

  1. Restructuring announced as Fintyre Group misses January wages
  2. Jaap van Wessum named Cooper Tire general manager – EMEA
  3. Yokohama Europe puts European distributors under Hiroyuki Shioiri’s chairmanship
  4. Nokian Tyres appoints Hille Korhonen as president and CEO
9th October 2019/by Chris

EfTD rebrands as Fintyre Group

Company News

Wholesaler European Fintyre Distribution Limited (EfTD) has changed its name. As of yesterday, the firm is known as Fintyre Group.

Read more

Related news:

  1. Restructuring announced as Fintyre Group misses January wages
  2. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  3. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  4. Fintyre Group’s Reifen Krieg files for bankruptcy
17th September 2019/by Stephen
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