Press Releases of ALNO AG
Press Release of ALNO AG dated September 15, 2017
ALNO insolvency administrator concentrating on investor process
- 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.
Press Release of ALNO AG dated August 02, 2017
ALNO AG: Production is being continued – insolvency plan proceedings sought – Provisional creditors' trustee preparing to deal with the past
Pfullendorf, 2 August 2017 – Following completion of preparations on the technical and organisational side, kitchen production has restarted at ALNO AG's headquarters in Pfullendorf. In the interest of customers and creditors, the aim is to stabilise business operations as the basis for the further restructuring measures.
Press Release of ALNO AG dated July 27, 2017
ALNO AG's Supervisory Board unanimously support the restructuring efforts on the part of management, self-administration and creditors' trustee – Surprise at behaviour of former Board members
Pfullendorf, 27 July 2017. ALNO AG Supervisory Board along with all representatives of employees and the shareholders' side support the management, self-administration as well as the company's provisional creditors' trustee in their restructuring efforts. This was re-discussed and confirmed in face-to-face talks between Supervisory Board and self-administration and between Supervisory Board and provisional creditors' trustee at the Supervisory Board meeting on 25.07.2017 in Pfullendorf.
Press Release of ALNO AG dated July 23, 2017
Position statement of ALNO AG's Board of Directors and general agent
Pfullendorf, 23 July 2017 – ALNO AG's Board of Directors and the general agents appointed by ALNO AG's Board of Directors take the recent and, in part, incorrect press coverage as an opportunity to state their position on the present situation in the petition for insolvency proceedings under self-administration.
Press Release of Alno AG dated Juli 13, 2017
ALNO AG: Hechingen Local Court allows the petition for provisional restructuring measures under self-administration and appoints a provisional creditors' trustee
Pfullendorf, 13 July 2017 – Today, Hechingen Local Court approved ALNO AG's petition for a provisional restructuring procedure under self-administration. The court has appointed Prof. Dr. Martin Hörmann from law firm ANCHOR Rechtsanwälte as provisional creditors' trustee. Following the decision, a six-member creditors' committee will be set up to represent the interests of all creditor groups, including those of the loan creditors.
Press Release of ALNO AG dated July 11, 2017
ALNO AG applies for reorganisation proceedings with self-administration – initiated turnaround to be secured
Pfullendorf, 11 July 2017 – Applying to Hechingen Local Court to open insolvency proceedings with self-administration, ALNO AG's Board of Directors wants to continue the reorganisation measures initiated at the beginning of the year and secure the turnaround.
Press Release of ALNO AG dated June 30, 2017
ALNO AG: In the first five months, restructuring sees a reduction in the operating deficit with turnover remaining almost unchanged – publication of the annual and consolidated financial statement postponed to 14 August and the general meeting of shareholders to 28 September.
Pfullendorf, 30 June 2017 – After the first five months, the restructuring measures introduced at the beginning of the year within the ALNO Group show the following results: according to provisional figures, the operating deficit (EBITDA before restructuring) in Germany fell to minus € 1.3 million by the end of May 2017 (Jan-May 2016: minus € 10.0 million). Year on year, a reduction of € 14.5 million to minus € 7.3 million was achieved across the Group by the end of May 2017.
Press Release of ALNO AG dated May 29, 2017
ALNO AG: Christian Brenner follows Max Müller as Board Chairman – Supervisory Board acknowledges business personality
Pfullendorf, 29 May 2017 – After six years as Board Chairman at ALNO AG, Max Müller hands his office over at the end of May to the present Chief Financial Officer (CFO), Christian Brenner. The Supervisory Board accepted the resignation at its meeting today and reached the decision to conclude a severance agreement. Andreas Sandmann remains on the Board as Chief Sales Officer (CSO).
Press Release of ALNO AG dated March 10, 2017
ALNO AG: Board and IG Metall informed staff about result of negotiations over job cuts at works meeting
Pfullendorf, 10 March 2017 – At midday today, ALNO AG's Board of Directors and Works Council as well as the IG Metall metalworkers' union informed staff about the result of job-cut negotiations in a special works meeting at Pfullendorf headquarters. The package of measures agreed between ALNO AG, the Works Council and IG Metall will make a key contribution to securing ALNO AG's long-term future – both financially as well as on the market.
Press Release of ALNO AG dated January 27, 2017
ALNO AG: Frank Wiedenmaier leaves ALNO AG – Reallocation of Board responsibilities, reducing members from four to three
Pfullendorf, 27 January 2017 – Frank Wiedenmaier resigns from ALNO AG's Board of Directors at his own request and by mutual agreement. Board and Supervisory Council also say thank you on behalf of ALNO AG's staff for the success he has had and for the key contribution he made in particular to boosting performance and efficiency in ALNO AG's production network. Covering all factories, purchasing, logistics as well as quality, Frank Wiedenmaier has been responsible at ALNO AG as COO for "Operations" since January 2016 (from May 2016 as Board member).
Press Release of ALNO AG dated January 20, 2017
ALNO AG: Board informs staff about cornerstones of announced restructuring programme
Pfullendorf, 20 January 2017 – ALNO AG's Board of Directors today informed employees in staff meetings at headquarters in Pfullendorf as well as at the factories in Enger and Coswig about the cornerstones of the restructuring programme already announced.
Press Release of ALNO AG dated January 10, 2017
Result after the end of the additional acceptance period: Tahoe Investors GmbH holds 43.13 per cent of voting rights – "Successful entry of new major shareholder"
Pfullendorf, 10 January 2017 – ALNO AG welcomes the fact that 9.88 per cent of the independent shareholders have accepted the takeover offer published on 16 November 2016 and that Tahoe Investors GmbH has reached a total share in voting rights of 43.13 per cent, including the shares already held. The period for accepting the offer ended on Wednesday, 4 January 2017.
Press Release of ALNO AG dated January 3, 2017
Double award for ALNO AG: listing in World Market Leader Index and Interior Innovation ICONIC Award for ALNOATTRACT
Pfullendorf, 3 January 2017 – Listing the company in the World Market Leader Index, the University of St. Gallen and the Academy of German World Market Leaders confirm that ALNO AG ranks among the best in its business sector worldwide. The accolade as World Market Leader Champion 2017 was awarded in the "Kitchen Systems" segment of the "Construction Industry" business sector.