Successful conclusion of insolvency proceedings under self-administration
p>Hamburg/Minden, May 2, 2018: With the takeover by the cooperatively organised regional company EDEKA Minden-Hannover, the business operations of the established Hamburg fish trader Hagenah GmbH have been sustainably secured and all approximately 80 jobs are retained. At the end of October 2017, the Hagenah GmbH with its “longest fish counter in Germany” initiated insolvency proceedings under self-administration in order to sustainably restructure itself. At the end of 2014, the fish trader had already filed for insolvency as a consequence of a fire. Since the first insolvency proceedings, Hagenah GmbH is part of the Kroschke Group in Ahrensburg, which provided financial and operational support for the continuation of business operations.
During the entire restructuring process, the management was supported by the lawyers Dr. Rouven Quick and Justus von Buchwaldt from the nationwide operating law firm BBL Bernsau Brockdorff in all insolvency law issues. Attorney Peter-Alexander Borchardt of the insolvency law firm Reimer Rechtsanwälte accompanied the proceedings as trustee.
Dr. Rouven Quick of BBL states: “We are pleased to have found a buyer for Hagenah who has expert knowledge of the industry. With the purchase of Hagenah, EDEKA Minden-Hannover can complement and expand its own portfolio.” The trustee Peter-Alexander Borchardt adds: “The good cooperation with the managing directors and restructuring advisors contributed significantly to the success of the restructuring. The creditors and the court are also satisfied with the outcome of the negotiations. The head of the Hamburg insolvency court, Dr. Axel Herchen, emphasizes: “The preservation of a traditional company based in Hamburg and the retention of all jobs is a very positive result of the restructuring process.”
About EDEKA Minden-Hannover
EDEKA Minden-Hannover, with a turnover of 8.2 billion euros and 68,808 employees, including independent retailers, is the regional company with the highest turnover in the cooperatively organized EDEKA group. The business area stretches from the Dutch to the Polish border and includes part of Ostwestfalen-Lippe, almost all of Lower Saxony, Bremen, Saxony-Anhalt, Berlin and Brandenburg. More than two thirds of the nearly 1,500 stores are owned by independent EDEKA retailers. EDEKA Minden-Hannover also has 24 C+C wholesale markets (MIOS), five bakeries (Schäfer’s) and two production plants for meat and sausage products (Bauerngut).
About Fisch Hagenah GmbH
Fisch Hagenah GmbH (“Die Fischwerker”) can look back on more than 100 years of tradition. The company has been processing and selling fresh fish and fish products since 1892. Today Hagenah has a wholesale and retail business as well as a bistro in Hamburg. Further processing ranges from filleting and smoking to the production of a wide variety of fish salads. Its customers include wholesalers and retailers, larger restaurants such as canteens and retirement homes, as well as restaurants and hotels in the Hamburg area.
About BBL Rechtsanwälte
BBL is one of the leading law firms with a sole focus on reorganisation, restructuring and insolvency. The firm has extensive experience in complex restructuring projects both within and outside insolvency proceedings. More than 50 lawyers work at BBL nationwide in Germany and also in London. Further information: www.bbl-law.de