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You are here: Home1 / insolvency

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Pyrolyx files for insolvency in Germany

Company News

Recycled carbon black compnay Pyrolyx AG has cancelled the extraordinary general meeting it had scheduled for 15 January 2021, and has done so as the company has filed to open insolvency proceedings. The case (number 1507 IN 2125/20) was filed with the Munich District Court on 4 December 2020.

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  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Fintyre insolvency: New month, no pay
  3. Some Fintyre companies operating again in Germany
  4. Wheelmaker BBS insolvent
5th January 2021/by Stephen

BBS wheel manufacturing operations could continue

Company News, International News
BBS

BBS’s provisional administrator, Thomas Oberle, as provisional insolvency administrator, has clarified that there are not “structural problems” at the firms two plants in Schiltach and Herbolzheim. And therefore, that was not the reason for the well-known wheel brand’s recent insolvency our German group publication Reifenpresse.de reported.

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Related news:

  1. Wheelmaker BBS insolvent
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Some Fintyre companies operating again in Germany
  4. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
20th July 2020/by Chris

Wheelmaker BBS insolvent

Company News, International News

Wheel manufacturer BBS applied for bankruptcy protection at the district court in Rottweil, Germany on Monday 13 July 2020. It is the third time in the past 15 years BBS has done so. There were also bankruptcies in 2007 and 2011, our German group publication Neue ReifenZeitung (reifenpresse.de) reported.

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Related news:

  1. BBS wheel manufacturing operations could continue
  2. Spotlight on the Chinese Alloy Wheel Market
  3. BBS waging war against brand pirates
  4. BBS: Handbrake to be released in aftermarket business
17th July 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.

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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.

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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

No extension for Kumho Tire receivership deadline

Company News, International News

Sale agreement or receivership – according to creditors, 30 March remains the deadline for Kumho Tire. Yonhap News Agency writes that Lee Dong-gull, chairman and chief executive officer of the Korea Development Bank, has ruled out an extension to this deadline. This means that should its labour union not agree to Qingdao Doublestar Tire’s purchase of a 45 per cent share in the company, from Monday 2 April Kumho Tire will be bankrupt and placed under court receivership.

Read more

Related news:

  1. KDB dismissive of new offers on Kumho Tire
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. New Kumho Tire asking price a chance for Park Sam-koo
  4. Kumho Tire – can a Doublestar acquisition still take place?
28th March 2018/by Stephen

Interstate Tire & Rubber insolvency linked to non-payment by Austrian tyre wholesaler

Company News

According to an official report on the insolvency of Interstate Tire & Rubber Company BV, the direct cause of the firm’s bankruptcy was the non-payment of invoices by a customer, an Austrian tyre wholesaler named in the document as Bruckmüller GmbH.

Read more

Related news:

  1. TBC Corporation acquires Interstate brand marketing rights
  2. Interstate Tire & Rubber enters insolvency proceedings
  3. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  4. Buyers found for 2 more Fintyre businesses in Germany
22nd December 2017/by Stephen

Interstate Tire & Rubber enters insolvency proceedings

Company News

The Court of The Hague in The Netherlands has declared Interstate Tire & Rubber BV insolvent. According to an official document, the court reached this decision on 30 November 2017. Proceedings will be conducted under case number F.09/17/429, with J.A.M. Reuser appointed as case curator. Further official information regarding the insolvency has not yet been made available.

Read more

Related news:

  1. Interstate Tire & Rubber insolvency linked to non-payment by Austrian tyre wholesaler
  2. CST extends Dutch football sponsorship
  3. Continental takes over Netherlands tyre distribution from Pon
  4. Apollo Tyres: Netherlands car tyre production down, but not out
18th December 2017/by Tyrepress Editors
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