Home / Knowledge / News / Textiles / Trevira: insolvency administrator Schneider is optimistic
Trevira: insolvency administrator Schneider is optimistic
01
Jul '09
Insolvency Administrator Werner Schneider
Insolvency Administrator Werner Schneider
During this week talks with investors for the insolvent Trevira Group are entering their second phase. Looking ahead, chartered accountant and provisional insolvency administrator, Werner Schneider, said: “To date we have held detailed discussions with eleven interested parties and this circle is now to be limited to a smaller group of companies“.

Neu-Ulm/Bobingen, 30th June 2009. Schneider thought it a very positive factor that a large number of investors had expressed a firm interest in the insolvent Trevira Group, and he saw this as an indication that the substance of the company was in good shape. The current schedule envisages the sales discussions coming to an end by July 31st – that is, while the provisional insolvency process is still going on. Interested parties include both strategic and financial investors.

“We remain very optimistic that we will find a robust investor for the entire company group by the scheduled date, one who will continue to operate the business in the long term“, Schneider goes on. The basic reasons for this positive interpretation were chiefly the comparatively low level of liabilities and the current operation of the business, which continues to go well, with the corresponding turnover and income. As things stand today, it was possible to say production would be able to continue after the 31.7, should it be the case that the search for an investor takes longer.

Turnover curve clearly on the rise
The Trevira Group is at present recording increasing turnover figures. Uwe Wöhner who is running the business at the request of the insolvency administrator, has noticed relations with customers and suppliers returning more and more to normal over the last fortnight.

“We can sense the amount of confidence of people in our environment, and we are grateful for this: it strikes a very optimistic note for the future“, declares Wöhner, who until a few months ago had been head of operations as CEO. Due to the assets loan, the present income from operations and the factoring arrangements, there were sufficient funds available to keep the business going.

Follow-on insolvencies announced
As a consequence of Trevira GmbH and Trevira Holding GmbH filing for insolvency, there have been subsequent insolvencies announced over recent weeks, as the subsidiaries there followed suit: Poland (4th June), Spain (5th June), Italy (8th June) and Belgium (17th June). Chartered accountant Werner Schneider has also been appointed provisional administrator in these cases.

First meeting of creditors' committee
The preliminary committee of creditors for the present insolvency process of the Trevira Group held its first meeting at the end of last week. The group, comprising representatives of the most important creditors and of employees, learnt details of the current position of the process from the insolvency administrator. There are at the moment around 2,500 creditors, of whom 1,700 are Trevira employees. Amounts receivable total some 85 million euros at present, a relatively small sum for a company the size of the Trevira Group.

Trevira Group


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search