Baur Formschaumtechnik, a domestic factory for plastic parts for the engines of Europe’s largest automakers, has filed for insolvency.
The company submitted an insolvency petition after eleven years of existence. The company supplied large car manufacturers such as Volkswagen, Ford, and Daimler.
This year, the company tried to save by negotiating the entry of the investor.
The company did not respond to the insolvency questions sent. In the insolvency petition, however, the company claims that it currently has enough orders and employees to continue production. The owner of the domestic company is the German company Charlotte Baur Formschaumtechnik entrepreneur David Spitzer. Which has been in insolvency since early November. The Czech part of the group asked the court to appoint the same insolvency administrator as the German mother. “The proposal to appoint a visiting insolvency trustee from another EU Member State for cross-border bankruptcy concerns is unique in the Czech Republic,” commented lawyer Bystrík Bugan from the law firm Bugan Legal.
Via E15.cz