RS Exclusiv Archives

End of the line for German tyre wholesaler RS Exclusiv

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.

28th April 2020/by Stephen

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

Insolvency proceedings begin for 7 Fintyre Group companies in Germany

2nd April 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.

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.

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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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.

14th February 2020/by Stephen

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