In late February, Germany’s largest retreader – the Günzburg, Bavaria-based Ihle Group – filed for insolvency. At the beginning of May, the local regional court (Neu-Ulm) commenced insolvency proceedings against the company after determining an inability to pay and over-indebtedness. The court has appointed lawyer Prof. Dr. Martin Hörmann liquidator for Reifen-Ihle GmbH while lawyer Alexander Reus is responsible for Reifen Ihle Service GmbH. The court has also appointed a creditors’ committee. Creditors will meet together on 25 June and, based on the liquidators’ report, decide how to go forward with the process.
The Ihle Group, headquartered in Günzburg (Bavaria) yesterday filed for bankruptcy at the local court in Neu-Ulm. Managing director Jürgen Eigenbrodt has since confirmed this with Tyres & Accessories’ German sister publication Neue Reifenzeitung (www.reifenpresse.de), adding that applications for all four companies in the group have been submitted to the court in Neu-Ulm, which has in turn placed the business in provisional insolvency administration.