D – Könitz Porzellan has filed for insolvency under provisional self-administration with the District Court of Gera, which was approved on June 7, 2018. “We see this procedure as a chance to reorganise our company and sustainably establish ourselves again as a strong partner on the market,” stated Turpin Rosenthal, Managing Direcctor of Könitz Porzellan. In his capacity as an experienced restructuring expert, Andreas Schmieg from the consulting company, Buchalik Brömmekamp will be supporting him over the coming months.
Initiating the administrative procedure became a necessary step after a controversial customs procedure caused a liquidity bottleneck. As a result, an insolvency procedure had to be filed for the Weimar-based porcelain manufacturing company on April 19, 2018, since it was no longer possible to support the company with liquid assets. Rosenthal added that the decision to start the restructuration process mean that Könitz Porzellan will be able to fully concentrate on its core business again before the end of the year. The continuation of the group and the maintenance of the long-standing customer and supplier relations is the aim. Furthermore, products will continue to be manufactured at all locations, the bank details and customer service contact partners remain the same.
Könitz Porzellan dates back to the year 1909, the company currently has 230 employees.