Good news for the location and all employees involved: the bankrupt bicycle manufacturer Simplon from Vorarlberg is taken over by a local investor and the future of the company is secured thanks to a capital injection.
The traditional Harder company Simplon is about to restart. On Thursday, Austrian financial investor SOL Capital Management announced an acquisition. This is also accompanied by a capital injection, which guarantees the implementation of the restructuring plan: the 228 creditors receive a quota of 30 percent of the recognized total claims amounting to 39.3 million euros. The restructuring plan has already been unanimously approved by the Feldkirch District Court.
Also positive: The takeover also includes a clear commitment to the location; there are no plans for layoffs. However, there are personnel changes at the top of the company: the previous director Jakob Lusch is leaving, the designated successor is the ‘experienced reorganiser’ Christoph Mannel, currently CCO at the Dutch bicycle manufacturer group Accell.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
