01 November 2010

News from Marklin

Märklin are still some hurdles to jump. The creditors have claims totaling less than 100 million €. Pluta administrator wants to solve the problem by year end.

The insolvency plan for the model railway manufacturer Märklin is not yet set in stone. The creditors' committee first discussed the plan administrator Michael Pluta. This would end the bankruptcy of the traditional company from Göppingen the year. Finally has to choose a meeting of all creditors. Their demands amount to a total of about 93 million €.
The date for the plenary meeting of the creditors are not yet finalized, said a spokeswoman for the insolvency administrator. According to a report of the SWR (SWR), citing gives it a total of 1380 Amtsgericht Göppingen creditors, they could meet earlier than the end of November.
Märklin had filed bankruptcy in February 2009. Since the announcement of the insolvency had to walk more than 400 employees, about 1,000 remained at the sites in Germany and Hungary. Last week had become known that Märklin Stefan Löbich gets a new boss.
In mid-July had announced Märklin for the first half of 2010, an increase in orders of 74 to 78 million €. Revenues had grown from 40.4 to 42.6 million euros. Earnings before interest and taxes (EBIT) increased compared to the same period of minus 1.5 million to 1.8 million euros plus.

Stefan Löbich ()46 will be new CEO of Marklin from November, 1.

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