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From foto-contact.de (auto translated) January 30, 2019
Tetenal: Employees want to receive proven products
Following the decision to implement Tetenal Europe GmbH, employees of the traditional company want to continue their initiative, which was initiated at the end of 2018, to develop a concept for how, in spite of the liquidation of the company, Tetenal products can be successfully provided on their own or new products can be developed. This is from a press release of the insolvency administrator, White & Case Partner Sven-Holger Undritz, forth.
"If the employees succeed in putting their ideas into action, the insolvency proceedings can still give Tetenal a fresh start," explained Undritz. "I would be happy!"
So far, business operations have continued unrestrictedly, thanks to the dedication of employees and the loyalty of regular customers, added Undritz. In addition, a previously initiated investor search process was continued, which the company set in motion more than a year ago. Since an investor could not be found in the course of the insolvency proceedings, now the orderly settlement, in particular by Ausproduktion, initiated. This gives customers the opportunity to place their last orders. It is expected that the location Norderstedt will finally be closed in April 2019.
The insolvency affects about 100 employees. More than half of them are still active in the production process.
The foreign subsidiaries in England, France and Poland are not directly affected by the bankruptcy, according to the press release.