DyStar’s insolvency filing includes the company’s sites in Frankfurt, Leverkusen, Brunsbüttel, Geretsried (the former Dr Boehme factory), and Ludwigshafen, which combined employ about 1,300 people.
Following DyStar’s petition filing, the Local Court in Frankfurt am Main appointed Dr Stephan Laubereau, of Pluta Rechtsanwalts GmbH, as preliminary insolvency administrator over the estate of DyStar Textilfarben GmbH & Co. Deutschland KG, and Miguel Grosser, of JAFFÉ Rechtsanwälte Insolvenzverwalter, as preliminary insolvency administrator over the estate of DyStar Textilfarben GmbH.
The preliminary administrators are meeting with DyStar management at the registered offices of DyStar in Frankfurt am Main/Höchst, to analyse the actual situation.
A statement said the insolvency filing became necessary after the company exhausted alternative solutions to address their liquidity pressures.
Source: inteletex.com