© alexander podshivalov dreamstime.com PCB | May 11, 2020
Schoeller Electronics in preliminary bankruptcy proceedings
German PCB manufacturer Schoeller Electronics Systems GmbH has entered preliminary insolvency proceedings. Business operations continue regardless.
The district court of Marburg appointed the lawyer Dr.Michael Lojowsky from Schultze & Braun as provisional insolvency administrator. The approximately 200 employees were informed about the development and salary for the next three months is covered. The provisional insolvency administrator is currently getting an overview of the company's economic situation and is examining restructuring options, according to a press release. The company is currently without a manager. The managing director is in the UK and cannot leave the country due to Covid-19 lockdown measures. At the same time, he is currently reachable neither by phone nor by email. An authorised signatory had left the company at the end of 2019. "So there was no one who was able to release orders or initiate payments", reports Dr. Lojowsky, who was named a "strong provisional administrator" due to these circumstances. This means that Dr. Lojowsky can make and implement decisions independently in the preliminary insolvency proceedings. "This is an important step for continuing business operations and advancing bankruptcy measures", continues Dr. Lojowsky.