Posted 13th March

Kitchen firm Warendorf – Die Küche files for insolvency

By KBBDaily on 13th March 2019 - 10:17am
kitchen, money matters, warendorf, Warendorf – Die Küche, administrator, insolvency, manufacturer, germany, kbb, kbbdaily, private equity, cobe capital

Münster-based kitchen manufacturer Warendorf – Die Küche has filed for insolvency due to liquidity problems, appointing Stefan Meyer of Pluta Rechtsanwalts GmbH as provisional insolvency administrator.

According to the administrator, the “ambitious but necessary” sales targets for 2018 could not be met. However, order intake was “significantly higher” in the first two months of 2019 than the previous year. Pluta Rechtsanwalts noted that business operations will continue.

Shareholders were unable to reach a consensus on further financing of the business, resulting in the launch of a sales process for the company which “was not completed in the short time available”, the administrator said. Meyer added that the “goal is to find an investor”.

Warendorf Retail GmbH, based in Cologne, has not been affected by the insolvency, Pluta Rechtsanwalts noted. Warendorf – Die Küche currently employs around 110 staff, whose salaries have been guaranteed by insolvency substitute benefits.

“First of all, we will get an overview of the economic and legal situation in order to stabilise business operations,” said Meyer. “The order books are very well filled and the employees are motivated. These are good basic conditions for the coming weeks and the intended restructuring of the company.”

Warendorf was established as Miele – Die Küche in 1973. In 2005, Swiss group Arbonia AG acquired Miele’s kitchen manufacturing division and rebranded it as Warendorf in 2010. In 2012, Arbonia sold Warendorf to private equity firm CoBe Capital.


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