Business of Drettmann GmbH goes on despite insolvency

Drettmann GmbH opened Insolvency proceedings on the 25th of May 2010. According to the company’s management this step was necessary, because restructuring talks with house banks couldn’t be bought to a positive conclusion in the time frame required . Despite insolvency proceedings the business is going on in full.

For decades Drettmann GmbH has been and still is one of the largest dealers for new and pre-owned yachts Europe-wide. The traditional German family company has customers worldwide and employs approximately 35 staff in Bremen. It got into economic difficulties because of the World Wide Economic Crisis, which has caused a major decline in the prices for used yachts, and a turn down in new boat sales in the mid range.

The ordered temporary insolvency administrator Edgar Grönda (Schultze & Braun) by the District Court of Bremen is confident that business operations will continue for the period of insolvency by working the creditors.

“The insolvency law gives all interested parties a reliable framework for preservation of a company even in time of crisis. We will examine continuation and restructuring plans”, says Grönda.

Full support and willingness are signalled by the employees of the Drettmann GmbH for that business without restrictions can be guaranteed.

Drettmann Group
+49 (0) 42 1 / 5 66 07-0
www.drettmann.com

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