It was is likely no surprise to many whom have watched the Alno story play out it has been announced the Alno AG business will now be permanently shutdown after the business failed to secure a buyer and the last interested potential investor of the business pulled out of negotiations without making an offer.
Insolvency administrator Prof Dr Martin Hörmann said it was “bitter news” for the company and that Alno employees at the Pfullendorf site would receive their redundancy payments this month (November).
Hörmann revealed that there had been no interested parties willing to get involved with Alno and so there was no alternative but to suspend business operations and initiate a plant shutdown.
Components for Pino Küchen will be available for a limited time.
A team of 60 employees will take over insolvency-specific processing activities.
“We have fought and tried everything to find a viable future solution for Alno, but without an investor who would have been willing to remove the investment backlog and, moreover, invest considerable resources in continuing its business operations, there is no future for Alno. I am very sorry for that because. I see what Alno means for the people here and in the region,” said Hörmann.
The latest news comes on the back of the press release it made in September when it announced its plan to find a buyer to bring it out of administration:
- ALNO companies no longer accepting any orders until it is taken over by new investor – Production suspended at ALNO factories
- Solutions being sought through accelerated bidding process
- Insolvency administration looking for solutions geared towards resolving the problem of lacking parts –
Pfullendorf, 15.09.2017. In the complex and extremely difficult insolvency proceedings at kitchen manufacturer ALNO AG and its subsidiaries, Gustav Wellmann GmbH & Co. KG, pino Küchen GmbH as well as ALNO Logistik & Service GmbH, the provisional insolvency administrator is trying to find an investor solution as quickly as possible. Following the failure of numerous intensive talks held by the insolvency administrator and his team with the group’s main customers and suppliers to find a short-term solution to financing business operations, the focus is now on the ongoing sales process.
“We fought and tried everything to find a viable future solution for Alno,” said insolvency administrator Martin Hörmann of Anchor Rechtsanwälte. “But without an investor who would have been willing to invest significant resources to continue doing business, there is unfortunately no future for Alno.”
Anchor added that components for Pino Küchen – which was sold to a group of investors that includes kitchen furniture manufacturer Nobilia in October – are currently being manufactured by Alno AG for “a limited period of time”.