Lower Bavaria’s automotive supplier A-Kaiser had to file for bankruptcy. Reason: The main customer VW has terminated the contract.
German auto supplier A-Kaiser, based in the Aicha worm Wald in Lower Bavaria, is bankrupt. The responsible district court of Passau has ordered preliminary insolvency proceedings, as can be seen from an official notification.
Accordingly, Michael Jaffe was appointed the initial insolvency administrator. Jaffe is also known as the insolvency administrator of the former DAX Group wirecardhandjob Who had to file for bankruptcy last June due to suspected fraud worth billions.
Jeff is trying to find investors in A-Caesars, BR reports. The operation, however, must be maintained, it continues. About 430 employees of the company are currently on short time work.
Report: IG Metal sees bankruptcy as an opportunity
Auto supplier was established more than 40 years ago. It produces lightweight metal components for clutch and brakes, for example, and supplies major European car manufacturer. The company has now run into financial difficulties as Volkswagen Group terminated the contract at the end of May.
Organization IG Metal However, the bankruptcy administration sees an opportunity, reports “Passauer New Presse.” VW I have categorically declared that I will no longer be working with the current owners of A-Caesars in the future.
In 2018, controversial Swiss investor Gramax Invest took over A-Kaiser. It was also at times owned by furniture maker CS-Schmal, but also bankruptcy Had to register. A public prosecutor’s investigation is still ongoing.