Friedrich Klotz GmbH & Co. KG: court orders preliminary insolvency proceedings

Aschaffenburg/Mömlingen, 29 June, 2018. After the Friedrich Klotz GmbH & Co. KG filed an insolvency application, the district court in Aschaffenburg ordered the preliminary insolvency administration of the company. Attorney at law Marcus Winkler from the firm BBL has been appointed as preliminary insolvency administrator.

Winkler and his team are currently on site in order to gain a comprehensive understanding of the current economic situation. Friedrich Klotz GmbH & Co. KG is specialized in menswear. For the assessment, Mr. Winkler has initiated talks with all relevant stakeholders. His objective is a comprehensive restructuring of the company and long-term continuation of business operations. Based on his first analysis, attorney Winkler requires the support of one or more investors who completely or partially take over the company.

The experienced restructuring expert states: “The good reputation of the company, being one of the remaining clothing companies to produce in Germany, the high volume of orders and a motivated workforce, are strong arguments for investing into this company”. He therefore sees an opportunity in combination with a compelling take over concept and a suitable investor to continue business operations for Klotz. In order to achieve this, Winkler has initiated the investor process. He proceeds to say: “Our main objective is to retain as many jobs as possible.”

He has a positive feeling about the process, as clients and suppliers signaled that they will continue cooperating with Klotz. The workforce, who was informed about the proceedings and the steps ahead on June 27, 2018, agreed to support the Friedrich Klotz GmbH & Co. KG during the restructuring process.

Business operations are continuing without impact on the renowned quality of production. “The order books are full”, explains Peter Klotz, son of the founder and managing director of the company since 2004.

The salaries of the 126 employees in Mömlingen are secured up to and including the month of August 2018 through the insolvency funds provided by the Employment Agency.

The men’s outfitter KLOTZ – Reine Männersache based in Mömlingen is operated by Klotz GmbH and is not in any way affected by the insolvency of Friedrich Klotz GmbH Co. KG.

About Friedrich Klotz GmbH & Co. KG:
Friedrich Klotz GmbH & Co. KG was established in 1949 and is since in the business of producing and selling men’s wear. Currently they are producing in Mömlingen, Bavaria. The men’s wear includes suits, trousers, jackets and coats as well as traditional and club clothing. The company produces their clothing in more than 100 different sizes. The clothing is produced 100% MADE IN GERMANY. Klotz is popular with retailers all over Europe. The company employs a workforce of 126.
Further information: www.friedrich-klotz.de

About Attorney Marcus Winkler:
Marcus Winkler, Partner at BBL, has worked for more than 18 years as a lawyer in the field of restructuring and reorganization and has been regularly appointed as insolvency administrator, administrator and trustee since 2002. His specialization lies in the continuation and the turnaround by means of insolvency plans and/or transferring restructuring of companies of different industries and of all sizes. In addition, Marcus Winkler advises companies and creditors on all questions of insolvency law, in particular in the area of restructuring through a debtor-in-possession proceeding.

About BBL:
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

Contact for investors:
Attorney Marcus Winkler
Römerstraße 3
63785 Obernburg
Mail: obernburg@bbl-law.de

Media Contact:
FELDMANN Kommunikationsberater
Thomas Feldmann
Phone: +49 178 8550496
Mail: feldmann@feldmann-kb.de
Internet: www.feldmann-kb.de