In a significant step toward revitalisation, the creditors of W.Schillig Polster Möbelwerke GmbH & Co. KG have unanimously approved the insolvency plan in the self-administration procedure on January 17. The approved plan outlines the disbursement of a guaranteed quota scheduled by the end of March, ensuring the conclusion of the insolvency procedure no later than May 2024. This development marks a pivotal moment for the continuation of the esteemed upholstered furniture manufacturer based in Upper Franconia.
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Over the past few months, the company has embarked on targeted restructuring measures, optimising various internal projects and processes. This proactive approach laid the groundwork for continuing the business history of the family-owned company, founded 75 years ago. Erik Stammberger, CEO of W.Schillig, extended gratitude to all involved parties, particularly employees and business partners, for their dedication during challenging times for the furniture industry.
The company's current motto is "Back to the Roots", emphasising a focus on core strengths and specialties, with top priorities given to comfort and feel-good features.
Already in effect, the restructuring measures have positioned the company for better-than-expected performance according to initial projections. Stammberger highlighted ongoing efforts toward goals such as enhanced delivery reliability, quality improvements, and elevated service standards.
Founded in 1949, W.Schillig Polster Möbelwerke GmbH & Co. KG initiated the self-administration process on May 12, 2023. Attorney Joachim Exner from the law firm Dr. Beck und Partner was appointed as the insolvency administrator, commencing the insolvency procedure on August 1, 2023. As a positive outcome of the restructuring initiatives, 120 out of the company's 225 jobs will be preserved, signalling a promising chapter in the company's journey of renewal.
Source: www.moebelkultur.de