Air berlin, schlecker, germania – major german companies that have had to file for insolvency in recent years. But what does that actually mean? and who receives the remaining assets of the company? T-online clarifies. (source: t-online)
company bankruptcies are affecting more and more german companies: t-online explains when a company is insolvent and who gets the company’s remaining assets. (source: t-online.De)
Bad news for the employees of the heinze group: the car supplier from herford is insolvent. The reason: porsche, BMW and co. cut back their production.
These companies face bankruptcy in the corona crisis
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The automotive supplier heinze, headquartered in herford, Germany, had to file for insolvency. This was reported by several media with reference to the group of companies.
As reported by the "westfalen-blatt quoting managing director jorg tilmes, the heinze group ran into financial problems because of a sudden halt in orders from car companies. Because costs continue to run. Among other things, the company produces parts for interior trim, such as trim strips or loudspeaker grilles, and supplies companies such as porsche, BMW and mercedes.
"carmakers no longer produce because they can no longer get semiconductors. So they don’t need any more plastic parts, either", tilmes explains to the newspaper. the group has been complaining about a shortage of microchips for months – and has therefore had to temporarily shut down production.
730 employees affected
The group, which consists of 24 individual companies, employs around 1,000 people.100 employees worldwide, 900 of them in germany. The insolvency affects 730 employees of the company. Three subsidiaries did not have to file for insolvency, the report says. according to media reports, you were already informed of the insolvency on friday afternoon.
heinze includes, among others, krallmann gmbh in hiddenhausen, hero galvanotechnik gmbh in bad salzuflen or linden gmbh in herford. According to the company’s website, the company also manufactures sanitary products and parts for cell phones in addition to car parts.
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the heinze group has been in existence for around 85 years and has an annual turnover of more than 100 million euros.