2024-09-15 08:37:29
The automotive industry is in crisis, and suppliers are also feeling the effects. The Erwin Lutz spring factory has now had to file for bankruptcy.
The automotive supplier Federnfabrik Erwin Lutz from Eningen unter Achalm near Reutlingen in Baden-Württemberg is insolvent. The company filed for insolvency at the Tübingen District Court on August 9, as several media outlets are now reporting. The Reutlingen lawyer Jürgen Sulz has been appointed as the provisional insolvency administrator.
Erwin Lutz founded the spring factory in 1966 in Eningen and specialized in technical springs and bent parts. The product range includes various types of springs such as compression springs, tension springs, torsion springs, bent wire parts and special components such as leaf springs and magazine springs.
These are used in the automotive industry and in mechanical engineering. Large corporations in both sectors are currently struggling, which is affecting the order situation at suppliers. “Customers from the automotive and mechanical engineering industries have recently been making little use of large framework agreements,” said insolvency administrator Sulz to the “Reutlinger Generalanzeiger”.
But that’s not all the bad news: Even before the bankruptcy petition was filed, a decision to close the factory was reportedly made and all 20 employees were given notice. Until the layoffs take effect, salaries are now covered by insolvency benefits. “This has already been pre-financed for the months of July and August 2024 and paid out to employees,” said Sulz.
The company left family ownership in 2022. Until then, it had been run by the heirs of founder Erwin Lutz. The current managing directors are Tobias Ulrich and Tanja Knörzer, as the platform bw24.de reports.