Berlin – Mechanical wristwatches are hand-made in the Hackesche Höfe in Berlin-Mitte by Askania AG. The watches can compete with any Swiss luxury brand and are world famous.
Nevertheless, the company’s continued existence is in danger due to a dispute with the Bürgschaftsbank Berlin (BBB). Askania is in debt but successful, which is not unusual in the economy. Nevertheless, the Bürgschaftsbank has filed for corporate insolvency. Askania must now defend itself against this in court.
It is hard to understand: The BBB is there to help small and medium-sized businesses in times of crisis. “No loan has to fail due to a lack of collateral,” the bank writes on its homepage.
But that will no longer apply to Askania. Business development gives reason for optimism: the company’s total turnover in 2019, i.e. before Corona, was 1.14 million euros, in 2023 it was 815,000 and in 2024 it was 627,000 euros in the first half of the year.
It is therefore very likely that sales will be as high as in the pre-Corona period or even better by the end of the year.
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Askania has committed itself with a “provision of goodwill” to pay off the debts if sales and profits increase. The BBB agreed, but in the end it was only a matter of details, such as the payment interval. Then the BBB broke off negotiations. According to the bank, the amount at stake is 309,000 euros.
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According to Askania’s lawyer Karl-Josef Stöhr from the Heuking law firm, the BBB has not provided evidence of any reason for insolvency. The bank has not commented, citing banking secrecy.
Askania boss Leonhard R. Müller is visibly desperate. He had suggested quarterly installment payments, but the BBB had insisted on monthly payments. “That can’t be the reason for it to fail,” says Müller.
He saved the brand in 2004 and brought it back to life, just as Jörg Woltmann saved the Royal Porcelain Manufactory KPM. Leonhard Müller, an entrepreneur from Pforzheim, managed to make the Askania watch a global brand again. His son joined the company and even his granddaughter. Around 20 craftsmen are employed.
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In view of the entrepreneurial achievements that lie behind Askania, the BBB’s behavior seems petty and provincial. I’ll quote the bank again: “Our task is to ensure that a profitable project, implemented by a convincing entrepreneurial personality, does not fail due to a lack of security.” The conditions are in place. With Leonhard Müller, a “convincing entrepreneurial personality” is involved. So it should work.
Is Gunnar Schupelius right? Write to: [email protected]
