Struggling Finances Lead to Bankruptcy for SGF: Organization Seeks Personal Bankruptcy Protection
South German Joint Bushing Factory GmbH & Co. KG (SGF), headquartered in Waldkraiburg, has filed for self-administration proceedings at the local court of Mühldorf am Inn. Despite this insolvency situation, the company's international subsidiaries in the Czech Republic, the USA, Japan, China, and Thailand are not affected.
SGF operates three locations in Germany, including Waldkraiburg, Kraiburg am Inn, and Hamm (Westphalia), and employs around 500 people. The company's management attributes the financial distress to the "general difficult situation in the automotive industry."
In an effort to address the growing challenges of the crisis, SGF has initiated further measures in recent months. The restructuring process will now be overseen by an interim trustee, appointed by the local court of Mühldorf, lawyer Michael Verken of the Anchor law firm.
The problem at SGF is not primarily operational, but rather high levels of debt and the resulting capital service capability. The company is seeking an investor who recognizes its potential and is willing to invest in a targeted manner. The search results do not provide the name of the potential investor sought for the SGF.
The management of SGF is being supported by restructuring experts Jan Markus Plathner, Christoph Enkler, and Sebastian Netzel from Brinkmann & Partner. The company is also legally advised by a team led by Hendrik Boss from Taylor Wessing.
Employees were informed the day after the filing, with wages and salaries secured through insolvency advance funding. The investor process has already begun during the interim proceedings.
In 2024, the group achieved a turnover of around 110 million euros. The company's international subsidiaries, which are not affected by the insolvency situation, continue to operate as usual. The insolvency situation does not affect all of SGF's locations.
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