The company is being restructured in self-administration. During the reorganization, the business enterprise runs on unrestrictedly.
The self-administration provides that the management can continue to dispose of the company's assets and is supervised by a court-appointed temporary administrator. The insolvency specialist Rüdiger Wienberg, commissioned by the District Court of Dresden, has already started work.
The reason for the petition for insolvency is the inability to pay of the company.
The necessity of a financial restructuring has become clear in the company. Initial remedial measures have already been initiated. “With the application for self-administration, we now want to go consistently this way,” says CEO Uwe Bartsch, who is supported in restructuring issues by experts of the law firm Schultze & Braun.
Of the approximately 60 jobs of the long-established company, the vast majority is being retained. “The filing for insolvency is not the end of this company,” insists Bartsch. “On the contrary: The self-administration offers a real chance of a restart. Our goal is the preservation of the business and as many jobs as possible.” The salary claims of the employees are secured by the insolvency money from the Federal Employment Agency.
About Sphairon Technologies GmbH
Sphairon Technologies GmbH is one of the world's leading providers of telecommunications and network technology products. The products include network termination for ISDN, ADSL and VDSL networks including VoIP solutions for next generation networks.
About Schultze & Braun
Schultze & Braun GmbH Rechtsanwaltsgesellschaft - Wirtschaftsprüfungsgesellschaft advises companies in the crisis in reorganization and restructuring issues and shows healthy companies preventive, insolvency-avoiding measures on, also the general legal and tax advice is taken over by individuals and companies.