Posted 11th September

Former Alno CEO buys Swiss brand from insolvent group

By KBBDaily on 11th September 2017 - 10:32am

Former Alno AG CEO Max Müller – who left his role in May this year – is reportedly behind a new holding company that has acquired Swiss steel kitchen brand Forster Küchen from Bruno Piatti, Alno AG's Swiss subsidiary.

Müller is the chairman of Forster Küchen's new owner, Forster Swiss Home, with former Alno AG CFO Ipek Demirtas – who left the company at the end of last year – also rumoured to be involved in the new holding company, according to German and Swiss press.

Forster Swiss Home will keep the brand's headquarters in Arbon and has taken over its 100 staff. Swiss media also reported that Alno AG's Bruno Piatti subsidiary is currently in trouble, with an alleged backlog of 4,000-6,000 kitchens ordered that it cannot supply.

At the end of last week, Alno Switzerland – which distributes Alno kitchens in the Swiss market – submitted an application for the opening of the provisional suspension of the company due to “imminent insolvency” and over-indebtedness, according to Alno AG.

Alno Switzerland employs 45 staff and operates six stores in the country, namely Zürich, Wallisellen, Meilen, Reinach, Ebikon and Biel. It is also responsible for around 80 retailers in Switzerland, Alno AG said.

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