Steilmann SE
Steilmann SE: Investor processes begin for Steilmann Group’s activities
DGAP-Media / 2016-04-18 / 11:43 PRESS RELEASE Investor processes begin for Steilmann Group's activities * The aim is to identify solutions over the coming weeks * Initial discussions with interested parties are already underway on certain activities * Business operations can continue with the company's own resources, without additional bridge financing Bergkamen, 18 April 2016 - Preliminary insolvency administrator for the German companies of the Steilmann Group, the attorney Dr Frank Kebekus, has initiated investor processes for the fashion group's activities. The aim is to identify solutions for the future over the coming weeks which will enable the long-term continuation of its various business operations. Initial talks with potential investors in these activities are already underway. Steilmann SE, the parent company of the Group, applied for insolvency on 24 March 2016. Subsequent insolvencies were filed for a series of German subsidiaries on 6 April 2016. Operative business at the various companies will continue during preliminary insolvency proceedings. Detailed assessments by the preliminary insolvency administrator and by the managements of the various companies arrived at the conclusion that business operations could continue to be financed from the company's own resources over the coming weeks, and that the bridge financing which had initially been planned is not needed. They therefore refrained from the financing offer made by a financial investor, which had almost been negotiated to a conclusion. Dr Frank Kebekus, preliminary insolvency administrator: "Our objective is to open up new prospects for customers, suppliers and employees as quickly as possible. This process is also in the best interest of creditors. What is clear is that future prospects differ widely from one company to the next." Media contact: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 - (0) 54 04 - 91 92 0 Email: frank.elsner@elsner-kommunikation.de End of Media Release --------------------------------------------------------------------------- Issuer: Steilmann SE Key word(s): Trades 2016-04-18 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Steilmann SE Industriestraße 42 59192 Bergkamen Germany Phone: +49 (0)23 89 783-0 Fax: +49 (0)23 89 783-112 E-mail: info@steilmann-se.com Internet: www.steilmann-se.com ISIN: DE000A14KR50, DE000A1PGWZ2, DE000A14J4G3, DE000A12UAE0 WKN: A14KR5, A1PGWZ, A14J4G, A12UAE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP Media
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found