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Enik: Insolvency but Operations Continue

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SIEGEN, Germany March 14 the traditional German bike supplier Fahrradwerk Enik GmbH (GM: Dieter Schroeder) had to ask for insolvency. Enik produces annually about 100,000 bicycles. The responsible court in Siegen appointed the Cologne based lawyer Dr. Bruno M. Kuebler to act as receiver. Enik is based in Wenden. According to the receiver

Enik: Insolvency but Operations Continue

SIEGEN, Germany – March 14 the traditional German bike supplier Fahrradwerk Enik GmbH (GM: Dieter Schröder) had to ask for insolvency. Enik produces annually about 100,000 bicycles. The responsible court in Siegen appointed the Cologne based lawyer Dr. Bruno M. Kübler to act as receiver. Enik is based in Wenden. According to the receiver Enik’s sister company CB Campus Bike GmbH located in Bruchsal is not affected by this insolvency. Campus Bike is a wholesaler that also offers complete bicycles.
Currently the receiver is checking the financial situation of Enik in Wenden. “What we can say now is that it looks positive. Enik customers don’t have to worry. Business operations will continue. Currently we are talking with customers and suppliers,” is mentioned in a press release. Kübler is convinced that the Enik business can somehow be saved.
Enik’s insolvency is rooted in a bankruptcy that took place in 2006 of one of the biggest customers of the company. That bankruptcy costed Enik about half a million euro. Enik’s works council is included in the current negotiations. The council represents a total of 66 employees that haven’t received their February wages. (JB)

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