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P&A and Pinarello-Germany Apply for Insolvency

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GÖGGINGEN, Germany (March 22) – Last Thursday Arnulf Stegmaier (temporary GM of German distributor P&A, who sells Mongoose, Jan Ullrich, Delgado) had to ask for insolvency. Receiver is Michael Pluta from insolvency chancery Pluta from Ulm. According to Christoph Wagner, the responsible man for this case at Pluta, all P&A employees will officially leave the […]

GÖGGINGEN, Germany (March 22) – Last Thursday Arnulf Stegmaier (temporary GM of German distributor P&A, who sells Mongoose, Jan Ullrich, Delgado) had to ask for insolvency. Receiver is Michael Pluta from insolvency chancery Pluta from Ulm. According to Christoph Wagner, the responsible man for this case at Pluta, all P&A employees will officially leave the company on 31 March – they haven’t received any wages since January. The chances for P&A to remain in business are low.
Furthermore Wagner is responsible for the insolvency case of Pinarello-Germany, a subsidiary of P&A. 50% of Pinarello-Germany is owned by P&A and 50% is in the hands of Pinarello Italy. As it has become clear now, the Pinarello headquarters already applied for insolvency of Pinarello-Germany on March10. According to Wagner this proves the fact that Pinarello isn’t interested in any further distribution of its bicycles by Pinarello-Germany. It looks as if this subsidiary company will also cease to exist. (JB)

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