Kettcar manufacturer saved for the time being

Kettcar manufacturer saved for the time being


New hope for the Kettcar manufacturer Kettler, which was threatened with closure: According to the German press agency, the company managed at the last minute to obtain interim financing from the Heinz Kettler Foundation. This allows the company to continue the search for potential investors. "I would like to be able to announce the new shareholder of Kettler GmbH in the coming weeks," said Kettler CEO Olaf Bierhoff.

The breakthrough was achieved according to company information, after the foundation supervision had recalled the board of trustees and a board of the foundation. They had until then refused an agreement.

Hope for a reliable future for the employees

North Rhine-Westphalia's Minister of Economic Affairs Andreas Pinkwart (FDP) was pleased about the development. "I hope that it is now very soon to take over the entire company and after many years of uncertainty for a reliable future for employees."

Kettler had already filed a petition for insolvency in July on his own responsibility. The goal was a reorientation with the help of a Luxembourg investor. However, the investor threw in the towel when the foundation was unwilling to meet its demands. After that, the situation got worse.

Earlier in the week, the company had warned it would have to cease operations this Friday if it did not receive interim financing. The approximately 720 employees would then be released. Nevertheless, the foundation was reluctant to help the company. Initially no opinion was received from the foundation.

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