Schweizer Group Global: Insolvency administrator signs continuation agreement with key customers

In the course of the insolvency proceedings of the Swiss Group Global GmbH, lawyer Marcus Winkler, partner of the law firm WINKLER GOSSAK, which specializes in restructuring and reorganization, has concluded a continuation agreement with the company's most important clients. This is an essential prerequisite for medium-term continuation planning and the intensification of the ongoing process of finding one or more investors who will take over and continue to supply the automotive supplier.

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"Despite the difficult initial situation, we are pleased that we have managed to find investors who show strong interest in the Swiss Group Global," said insolvency administrator Winkler. The Stuttgart-based renovation expert regards the fact that talks with prospective customers and customers take place almost daily to discuss which investor solution is feasible and therefore ultimately useful.

In addition to the reputation of the company and the resilient customer relationships, the tireless efforts of the around 600 employees at the Hattenhofen, Murrhardt, Roding and Plauen locations is a good argument for investing in the Swiss Group Global. “Our employees do great things in these difficult times. We would like to thank them most sincerely for this,” added Winkler. Regardless of the currently lower number of calls, there would be no major complaint issues and no quality problems, which would further strengthen the good reputation of the Swiss Group Global among its customers.

However, the situation is still not easy due to the Corona crisis.

“The Swiss Group Global was hit hard by the virus pandemic. With the shutdown, with a few exceptions, all of the scheduled production orders from our main customers have largely broken away. We must continue to face delivery and sales difficulties in the coming weeks, ”explains renovation expert Winkler, who was likely to be able to partially compensate for the massive drop in sales by using short-time work until July 2020 and making further savings.

Business operations are continuing at the four locations, albeit with restrictions. Despite the existing short-time work in all plants, the Swiss Group Global is pushing ahead with new projects for major customers. The aim is to ramp up production in all plants again from August 2020.

Together with the executives of the Swiss Group Global, Winkler today informed the employees about the current state of affairs by means of letters and notices due to the currently applicable meeting restrictions.