Conclusion of insolvency proceedings in self-administration and successful completion of the restructuring
Vossloh-Schwabe is pleased to announce that the creditors' meeting last Monday in front of the responsible district court in Stuttgart has approved with 100%! of all groups of creditors and votes the submitted insolvency plan.
This enabled the protective shield proceedings to be successfully completed in the shortest possible time. Until the end of May 2021, smaller administrative issues, such as the final determination of the costs of the proceedings by the court, the listing of all documents, etc. must be processed. Immediately thereafter, the formal confirmation of the termination of the proceedings is issued. Vossloh-Schwabe’s protective shield proceedings went smoothly and according to plan in every respect. The company is very healthy again, both financially and operationally.
The new financial year started very good and the next few months show a positive trend. "We are proud to have mastered this difficult path with our employees, customers and suppliers and we look forward to working with the entire VS Group on the innovative future of the lighting industry," says Managing Director Patrik Danz.
The strong combination of VS quality for lighting technology components and LED systems as well as the development into a system service provider will continue to be the focus. The future orientation is rounded off by an own toolmaking, software development and a global sales network that meets customer needs worldwide.
Headquartered in Germany, and with more than 750 employees in more than 20 production and sales sites throughout the world, Vossloh-Schwabe counts as a technology leader within the lighting sector. Top-quality, high-performance products form the basis of the company's success.
Vossloh-Schwabe's extensive product portfolio covers all lighting components: LED systems with matching control gear units, highly efficient optical systems, state-of-the-art control systems (Blu2Light & LiCS) as well as electronic and magnetic ballasts, ignitors and lampholders.