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fromJens Joachim
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shut down
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After the failed sale to an investor, the Pfungstädter brewery is to be refurbished using the protective shield process in order to avert the threat of insolvency. The company will continue to operate with all 100 employees.
The Pfungstadt brewery is to be renovated using the protective shield method. At the request of the private brewery, the Darmstadt district court decided this “to avert an impending insolvency due to a drop in sales in the Corona crisis,” the company said on Wednesday. The operation of the brewery will continue with all around 100 employees and will be monitored by a court-appointed administrator.
The Pfungstadt brewery, which most recently generated sales of 17 million euros annually, also suffered significant sales and revenue losses due to the corona crisis. A good 13,000 hectoliters of beer have been sold less in the past few weeks, said managing director Stefan Seibold. The export was “almost completely slumped”.
Operation of the Pfungstädter brewery continues undisturbed
“This extraordinary burden is now forcing us under the protective shield,” said Seibold. “In contrast to some other breweries, which have already had to close down, we can continue to operate undisturbed under the supervision of an administrator. The employment agency will take over the salaries of around 100 employees by the end of August. Our goal is to renovate the brewery and to keep as many jobs as possible with an investor, ”explained Seibold. The managing director wants to explain on Friday how the protective shield procedure works and how the brewery should be renovated together with a lawyer.
Brewery Pfungstädter is not insolvent
In the protective shield process, the Seibold brewery is supported by the law firm Schiebe and Collegen in Darmstadt, which specializes in restructuring and bankruptcies, and which many companies have been able to renovate and maintain. “The brewery still has air and is not insolvent. The necessary measures were taken at an early stage. We are therefore confident of renovating the brewery, ”says lawyer Annemarie Dhonau.
Talks with employees, customers, suppliers and banks planned
According to Seibold and Dhonau, talks will be held over the next few days and weeks with employees, customers, suppliers and banks. Dhonau hopes that “everyone has an interest in the renovation and continuation of the leading brewery in South Hesse”. Then the brewery, which has been marketed for some time under the slogan “the beer makers”, can continue to brew its specialties in the future, says the lawyer.
On behalf of the Darmstadt Local Court, the lawyer Jan Markus Plathner from Frankfurt is supervising the protective shield procedure as a provisional administrator.
The Pfungstadt brewery failed to sell in February
In February, the takeover of the brewery by Spectrum Invest with managing director Uwe Dieter Krück at the top failed (sale of the Pfungstädter brewery broke). Since then, the private brewery, founded in 1831, has had discussions with other interested parties for the company and the property, which is close to the Pfungstadt train station. At the beginning of the sales negotiations, investor Krück had talked full-bodied about building “the most modern brewery in the world” on the grounds of the Pfungstadt swimming pool. We will now intensify discussions with other interested parties, Brewery Managing Director Seibold said on Wednesday.
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