Overview
- DMB Metallverarbeitung filed for insolvency in early September, and the Amtsgericht Chemnitz approved the application.
- Lawyer Christian Krönert of Schultze & Braun was named provisional insolvency administrator, working on a restructuring plan with turnaround expert Dirk Herzig.
- The company cites a drastic drop in revenue and orders as the cause of its payment difficulties, reflecting a tough transition in the auto industry.
- Operations continue and roughly 70 employees have their pay covered through insolvency money for August to October, with initial supplier feedback reported as positive.
- The Erzgebirge-based firm, founded in 1962, had already trimmed personnel last year to cut costs but still faced declining demand.