Even though they supply to Ferrari, BMW, Mercedes, Volkswagen, Skoda and Porsche, German Schlote has nevertheless gone bankrupt. 1,350 jobs are at risk.
A solution must be found here and now if the employees at German Schlote are to still have a job. Their workplace has gone bankrupt.
The subcontractor, which had customers such as Ferrari, BMW, Mercedes, Volkswagen, Skoda and Porsche, had a loan of 150 million kroner cancelled. And that was more than the general economy could bear.
This is written by the Märkische Allgemeine Zeitung .
According to the bankruptcy trustee, Manuel Sack, the important thing now is to keep production going so that the car factories do not have to stop their own assembly lines as well.
– The most important task now is to keep production stable in all four plants and meet delivery obligations. We are in intensive discussions with all customers in the automotive industry to this end, says the trustee.
1,350 employees are guaranteed 3 months' salary
Due to the bankruptcy, the 1,350 employees are guaranteed a salary for three months, during which they will still have to go to work. But after that, the future is more than uncertain.
Apparently, several of the larger German car manufacturers are determined to continue their collaboration with Schlote, which manufactured metal parts for the automotive industry. But it is the banks that have lost patience and canceled the gigantic loan.
Schlote's CFO, Michael Bormann, says he is very disappointed with the banks, especially because several of the group's subsidiaries can manage on their own financially.
In total, four subsidiaries in addition to the parent company are affected by the bankruptcy, which has consequences for factories in Brandenburg an der Havel, Germany, Harsum in Lower Saxony, and in Harzgerode and Wernigerode in Saxony-Anhalt.
Schlote is far from the first company in the automotive industry to break its neck this year. The same thing happened to another subcontractor, whose employees were in the middle of wage negotiations. Read more about it here .
