Metal workers in crisis: The company SiSS from Baden-Baden has filed for bankruptcy. Operations remain unrestricted for the time being. The chances of a renovation are good.
The metal construction company SiSS GmbH from Baden-Baden is insolvent, according to a statement from the insolvency administration. Accordingly, the company filed an application to open insolvency proceedings, which were approved.
The Baden-Baden district court appointed Dirk Pehl from the law firm Schultze & Braun as the company’s provisional insolvency administrator. The metal processor’s business operations will initially continue without restrictions.
The company’s 67 employees were informed about the procedure and the next steps at a works meeting. The wages are secured until the end of the year through the insolvency benefit from the Federal Employment Agency.
SiSS GmbH only took over the business operations of the insolvent medical technology manufacturer Medifa around a year ago. The insolvency administrator now cited the insolvency of a key customer in the summer of this year as the cause of the insolvency application.
The associated loss of orders and sales for charging stations could not be compensated for in a short period of time, as the market for electromobility is currently considered difficult due to low demand. “Such a setback is difficult for a young company like SiSS to cope with so soon after its launch,” explained insolvency administrator Pehl.
Since taking over Medifa, the company has not yet acquired sufficient new customers and has therefore diversified its customer structure, which has now brought SiSS GmbH into economic difficulties.
The provisional insolvency administrator is now examining the options for restructuring. But the chances are good, not least that the company has modern machines and a factory on site that was only built a few years ago.