Self-administration proceedings successfully concluded
Lützenkirchen Lagertechnik gets off to a new start
The self-administration proceedings of Lützenkirchen Lagertechnik GmbH have been lifted by Cologne Local Court. This brings the restructuring of the family business, which began in June 2017, to a successful conclusion. Despite well-filled order books, Lützenkirchen Lagertechnik ran into financial difficulties in the middle of last year and underwent restructuring under insolvency protection. The company, which was founded in 1983, operates worldwide and specializes in the bespoke planning, production and assembly of shelving systems and storage technology.
With self-administration, the warehouse technology specialist made use of a restructuring option that has only been available to companies since 2012. The aim of the procedure is to continue the company as a going concern. For this reason, entrepreneurial responsibility remains with the management, which carries out the restructuring process independently. Business operations continued unchanged during the proceedings. Deliveries to customers were also made on time. "I would like to thank all customers, suppliers, employees and other stakeholders who have supported the restructuring process, fully backed the restructuring concept and always supported us," says Managing Director Manfred Lützenkirchen.
Following the application, Lützenkirchen Lagertechnik developed a viable restructuring concept together with the consultancy firm Buchalik Brömmekamp (Düsseldorf), which was approved by the court and the creditors. In addition, Buchalik Brömmekamp supported the company in all legal and business management matters. Key cornerstones of the restructuring were the introduction of modern controlling instruments, the further expansion of marketing and sales and the addition of a financial expert to the management team.
" Adrian Huwald is a proven specialist in the areas of administration and finance. He has decades of experience in the areas of corporate management, finance, controlling and risk management - also in international companies. He will re-establish Lützenkirchen Lagertechnik as a hidden champion," explains Manfred Lützenkirchen. The senior managing director and founder of the company will continue to provide the company with his technical expertise for a certain period of time. He will be responsible for production in the new management team. His son Mark Lützenkirchen will be responsible for sales and the design of new products. Adrian Huwald joined Lützenkirchen Lagertechnik as a co-partner at the end of the self-administration proceedings.
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