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ISOG Is Aiming For Restructuring Through Insolvency Proceedings

ISOG is aiming for restructuring through insolvency proceedings

Weilheim i. OB. On our own request the district court in Weilheim ordered provisional insolvency administration at January 22, 2020 and appointed the attorney Dr. Robert Hänel (partner of the law firm anchor Rechtsanwälte) as provisional insolvency administrator.

Our traditional company in Weilheim can look back on a 70-year history, produces grinding machines for national and international market with currently 83 employees. Above all the current buying restraint of customers from the automotive industry has recently led to our liquidity bottleneck. After extrajudicial restructuring efforts couldn’t be completed in time, our management decided to file for bankruptcy. The search for an investor should be continued quickly together with the provisional insolvency administrator. The wages and salaries are secured by the bankruptcy money for up to three months.

Our subsidiaries in Italy and Turkey are not affected by the bankruptcy.

About “ISOG Technology GmbH”:

We are a leading manufacturer of tool grinding machines. Our product portfolio includes high-quality manual and computer-controlled machines for regrinding and the production of even the smallest metal tools. In addition to the design and construction of machines, another business area is the service for our machines and the trade in spare parts and (own) used machines.

About “anchor Rechtsanwälte Partnerschaftsgesellschaft mbB”:

The law firm anchor Rechtsanwälte which specializes in insolvency law and corporate restructuring has more than 120 employees at eleven locations in Augsburg, Braunschweig, Düsseldorf, Hanover, Hildesheim, Cologne, Mannheim, Munich, Stuttgart, Ulm and Weilheim i. OB. Attorney Dr. Hänel is a partner of the law firm and has accompanied and restructured numerous big companies in insolvency (www.anchor.eu).

 

Press contact:

Anchor Rechtsanwälte

Attorney Dr. Robert Hänel

E-Mail: weilheim@anchor.eu

Telephone: +49 (0) 881 901090-0