Kathrein seeks to persist post-bankruptcy
The Kathrein Group, a century-old company based in Rosenheim, has filed for insolvency for Kathrein SE, Kathrein Electronics GmbH, and Kathrein Digital Systems GmbH. This move comes as a result of the group's struggles with revenue losses and the ongoing strain from the restructuring of former companies.
In a recent development, more than 100 employees at the group's sites in southern Germany are currently affected by the insolvency. However, wage payments for the affected employees will be covered by insolvency benefits from the Federal Employment Agency.
The Rosenheim Local Court has appointed lawyer Michael Verken as the provisional insolvency administrator for the Kathrein companies. Verken and his team have been working diligently to keep business operations running, holding numerous talks with management, employees, key customers, and business partners.
In a positive turn of events, processes have been stabilized, ensuring uninterrupted supply and care for customers in the insolvent Kathrein companies. This has been achieved through the collaborative efforts of the insolvency administrator and the company's management.
Kathrein Broadcast GmbH, one of the companies in the group, filed for insolvency in June 2022 and has already found an investor, Lenbach Capital. Lenbach Capital founder Hans Liebler will take over all shares of Kathrein Broadcast GmbH, and the company will no longer be part of the group under the new shareholders.
Lenbach Capital has shown interest in purchasing Kathrein Electronics GmbH as well, with the aim of securing long-term business operations. The investor process for the remaining insolvent Kathrein companies is set to start soon.
The Kathrein Group, known for its wide range of technical solutions including high-frequency and broadcast technology, network technology, digital reception systems, auto ID applications, e-mobility solutions, and products for building installation, is hopeful for a long-term viable solution. The goal is to preserve the well-known traditional brand.
The group's current crisis is primarily due to the ongoing strain from the restructuring of former companies that began years ago. Additionally, the group has been experiencing revenue losses due to global multi-crisis, with a significant drop in revenue last year caused by international uncertainties due to the Russian invasion of Ukraine.
Initial talks with potential investors are already underway for the remaining insolvent Kathrein companies. The group remains optimistic about its future and is committed to finding a solution that will ensure its continued success.
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