German solid wood furniture manufacturer has entered insolvency proceedings under self-administration, with operations continuing without interruption. The Münster District Court has initiated preliminary proceedings, appointing Dr. Frank Kreuznacht and attorney Thore Voß as general representatives, while Dr. Carsten M. Wirth serves as provisional administrator.
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The restructuring plan for the company, Rodam, was developed in coordination with managing director Alexander Haas and owner Godehard Pöttker. Management, alongside restructuring experts, aims to stabilise and reorganise the business swiftly. Other companies within the Pöttker Group remain unaffected.
Employees have been informed, with wages secured for three months through insolvency compensation pre-financing. Staff are reportedly supportive of the restructuring efforts.
According to Pöttker, underlying issues had already been identified, with initial solutions and measures put in place. He stated that further analysis would guide the next phase of restructuring. Haas expressed confidence in the process, noting it offers an opportunity to preserve Rodam's position as a long-term supplier of high-quality solid wood furniture.
A creditors' committee, appointed by the court, is supporting the restructuring alongside management and advisors.
Source: www.moebelmarkt.de
