The nearly 40 employees as well as customers and suppliers of Wuppertal-based Artur Nolzen Industrieofenbau have been informed by the provisional insolvency administrator that the business operations of the specialist for heat treatment equipment will continue without restrictions. Marco Kuhlmann of KKN Rechtsanwälte, attorney and specialist in insolvency and reorganization law, is acting as insolvency administrator. The proceedings are concerted to adapt the order structure of the family-owned company, which was founded in 1919 and most recently had annual sales of around eight million euros, to the current economic conditions.
"The order situation is good; the know-how of the employees is highly valued by the customers. The conditions for projects that had already been agreed before the Corona crisis contributed in particular to the impending insolvency. With the instruments of the insolvency code, we can readjust such projects and try to adapt the order structure of this family-owned company to the current economic conditions for an adequate future," explains Kuhlmann, the provisional insolvency administrator.
Wages secured despite proceedings
According to Kuhlmann, the consequences of persistently high energy prices, material costs or the rising interest rate level can be adequately taken into account in the upcoming corporate planning. Kuhlmann has initially prefinanced the employees' wages and salaries for the next three months.
Now the search for an investor is to be implemented in a structured process. This investor is to participate in a profitable future of Artur Nolzen Industrieofenbau.
On February 23, 2023, the managing director of the specialist for heat treatment plants filed for the opening of insolvency proceedings. On the same day, the competent local court in Wuppertal appointed the lawyer Marco Kuhlmann as provisional insolvency administrator of Artur Nolzen Industrieofenbau GmbH & Co. KG.
