After Insolvency of Company in Teufelberger Group: Reorganization Plan Accepted

According to the credit protection agencies AKV, KSV1870, and Creditreform, a total of 406 claims worth 30.2 million euros were registered, of which about 14.1 million euros were recognized as justified. Creditors can expect a quota of 30 percent. A continuation of the company is planned.

Company in Teufelberger Group Applied for Restructuring Procedure Without Self-Administration

At the end of January, Teufelberger Gesellschaft mbH, a producer of plastic straps with 186 employees, applied for a restructuring procedure without self-administration. The affected company is the smallest and youngest of the Teufelberger Group, which is divided into three business areas: Wire Rope (steel ropes), Fiber Rope (fiber ropes), and Strapping Solutions (plastic strapping bands). The latter is operated as an independent GmbH and filed for insolvency.

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