ae group restructures itself through insolvency under self-administration

On 12.08.2024, the ae group filed an application for the opening of insolvency proceedings under self-administration at Meiningen Local Court. Reduced demand from the automotive industry has put the company in financial difficulties.

"We very much regret having to take this step. Although we have already intensified our efforts to restructure our company in recent months, the drop in demand from car manufacturers continues to cause us great difficulties. We are confident that the insolvency proceedings will enable us to restructure our company and preserve jobs," explains Christian Kleinjung, CEO of ae group AG.

"The ae group's business operations will continue without restrictions as part of the court-ordered restructuring process. Our goal is to preserve the company," emphasizes attorney Martin Mucha from the law firm GRUB BRUGGER in Stuttgart. The experienced restructuring expert Martin Mucha and his team have joined the company as general representatives for the duration of the proceedings and are supporting the management with the restructuring. The wages and salaries of around 1,000 employees are secured until the end of October thanks to the insolvency substitute benefits.

"The substance of the ae group is good and the products are of the highest quality. We are therefore aiming to restructure the company and hope that we can find a good solution together with the employees, customers and suppliers," adds Martin Mucha, Chief Representative.