Quantron’s business continues with a core team of about 40 employees, provisional administrator says
For these employees, the pre-financing of the insolvency money has now been secured by a bank, so that their wages and salaries can be paid retroactively for the months of October, November and December. At the same time, the provisional insolvency administrator has initiated a structured sales process for the company in consultation with the provisional creditors' committee.
Constantin Graf Salm-Hoogstraeten from the restructuring law firm BBL, provisional insolvency administrator of Quantron AG (read the latest news about the German company here) stated in an official note that the business operations “will continue until further notice with the help of a core team of around 40 employees”.
For these employees, the pre-financing of the insolvency money has now been secured by a bank, so that their wages and salaries can be paid retroactively for the months of October, November and December. At the same time, the provisional insolvency administrator has initiated a structured sales process for the company in consultation with the provisional creditors’ committee. All goods ordered by the company from now on with the approval of the provisional insolvency administrator will also be paid for in full.
Quantron’s future is still uncertain
“In principle, various restructuring scenarios are conceivable,but from the current perspective, a transferring restructuring with the help of an investor appears to be the most obvious and also the best solution for the creditors,” said Graf Salm-Hoogstraeten.
Now, the next step will focus on finding new potential investors to secure possible future opportunities to the Augsburg-based truck&van manufacturer.
