The competent insolvency court in Nuremberg has appointed the experienced restructuring expert Volker Böhm from the law firm Schultze & Braun as provisional insolvency administrator. Böhm immediately got a picture of the situation on site and initiated the first necessary measures together with the management. Böhm also contacted important customers. Without exception, the customers have pledged their support for the restructuring and announced that they will continue to order from BOLTA-WERKE.
Böhm stated to the media: "BOLTA-WERKE is one of the leading international specialists for surface finishing in the automotive industry. The company has highly qualified employees, state-of-the-art manufacturing processes and a widespread distribution network. These are good prerequisites for a successful repositioning."
The reason for the company's current predicament is the ongoing semiconductor crisis in the automotive industry. As a result, some customers have postponed their call-offs, which led to a massive drop in sales at BOLTA that could not be absorbed financially.
Böhm is currently determining the available restructuring options. Following this, together with creditors and management, he will decide on the further course of action.