Posted 3rd Jul 2019

New owner for Warendorf to take over in next few days

3rd July 2019 - 14:52pm
kitchen, money matters, warendorf, Warendorf – Die Küche, administrator, insolvency, manufacturer, germany, kbb, kbbdaily, private equity, cobe capital

The new owner of Warendorf – Die Küche – which filed for insolvency due to liquidity problems in March – is set to take over business operations of the company – in the form of a new legal entity, Warendorf Küchenfabrik GmbH – in the next few days, according to administrator Stefan Meyer of Pluta Rechtsanwalts GmbH.

The unnamed Hong Kong-based investor was previously a customer of the company, with its CEO stating: “I have known the company as a customer for years and am convinced of its product and quality. A kitchen of the Warendorf brand with the ‘Made in Germany’ award has very high potential in the Far East, which we will be able to increase even further with our very good sales contacts.”

Warendorf’s workforce has been reduced by 21 employees, with managing director Stefan Hofemeier remaining as sole managing director of the new entity following the transfer. Insolvency administrator Meyer entered exclusive talks with the investor at the beginning of June after negotiating with several potential buyers. The purchase agreement with the Hong Kong investor concluded on the 11th June 2019.

“We have successfully managed to unite a number of very demanding and extremely challenging conditions among many parties involved in a very short space of time and to bring together different streams of interest,” Meyer said. “I would like to take this opportunity to thank all those involved once again for their hard but always fair and constructive negotiations.”

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