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© Floether Wissing Business | April 23, 2018

Insolvency administrator commences sales negotiations for Calyxo

The provisional insolvency administrator of Calyxo GmbH, Professor Lucas F. Flöther, has commenced sales negotiations for the business operations of the insolvent solar module manufacturer.
A timely investor solution should be possible, the law firm announces. The chances are good and a number of potential buyers have already expressed interest. In order to avoid further damage to the bankruptcy estate, production will continue until the transition of the business, albeit to a lesser extent. Research and development will be continued without any restrictions.

For potential investors this should not cause any disadvantages. The production facilities will be kept operational by the employees. As a result and in case of acquisition by an investor, the production can be resumed at short notice.

Wages and salaries for the employees are secured until the end of June 2018. The decrease in production stems from a legal requirement within the framework of the German Insolvency Code. Accordingly, creditors may not be further injured following a petition for insolvency by the filing company. In addition, Calyxo GmbH lacks the monetary funds to continue production.

Insolvency administrator Flöther is optimistic to find a long-term solution for the solar module manufacturer. The interest from bidders is promising, he states. It seems possible that parts of the business and part of the jobs can be saved. Although the company operates in a difficult market environment, Calyxo GmbH still maintains a leadership role in research and development.

Calyxo GmbH had to file for insolvency after a major order was withdrawn.

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May 11 2018 10:46 am V9.5.4-2