2024-08-02 01:39:37
Bad news for employees of the glass specialist Flabeg: The company, which primarily supplies the automotive industry, is insolvent.
The automotive supplier Flabeg from Furth im Wald near Nuremberg has filed for insolvency, according to a press release. The Regensburg District Court has appointed Volker Böhm of the law firm Schultze & Braun as provisional insolvency administrator.
As provisional insolvency administrator, he will examine the available restructuring options in the coming weeks in order to “put the company back in line with the market,” it says. However, the insolvency application does not include other companies in the Flabeg Group. Operations will continue “at full capacity,” it says.
The provisional insolvency administrator has already “held initial good and constructive discussions with the workforce, suppliers and customers of Flabeg Automotive Germany,” the statement said. “It is already clear that there is a great willingness to pull together in the restructuring,” said Böhm. “That is also why I see good chances for the restructuring.”
The aim is to preserve the company and as many jobs as possible, the provisional insolvency administrator continued. This could be possible, for example, through an investor who joins the company. A solution should be found by the end of September, and until then the wages and salaries of the 190 employees will be secured through insolvency benefits.
According to the statement, the reason for the current insolvency application is the economically tense situation in the automotive industry. Falling sales figures for electric cars have led to a decline in orders. In addition, the costs for pre-financing projects and acquiring new customers have increased. This is not the company’s first insolvency, reports the “Mittelbayerische Zeitung”. According to the report, Flabeg already went through insolvency proceedings in 2020.
The Flabeg Group specializes in glass processing and finishing. The company produces mirrors for cars in particular, but also instrument glass and head-up displays.