Steppenwolf Continues after Insolvency
OBERHACHING, Germany – On 26 July Steppenwolf GmbH (mother company) as well as for the operating company Steppenwolf Bikes GmbH insolvency was applied for at the court in Munich, Germany. Despite this step, operations of both companies continue.
According to Steppenwolf founders the brothers Andreas and Roland Liertz (photo) the application for insolvency was made in order: “To bring the already ongoing restructuring to a successful end”. Both Andreas and Roland Liertz stay on board as GM.
Next the Liertz brothers there were two other directors involved in the company. Michael Steiner was GM of Steppenwolf Bike GmbH while the mother company Steppenwolf GmbH was managed by a fourth GM named Tarik El Sahy. They left the companies.
Roland Liertz emphasizes that the day-to-day business continues as usual: “As well as our service center in Möckern, Germany.” Moreover the Steppenwolf booth at Eurobike will stay in place: “There will be also no delays with the development of our 2012 line-up.”
As receiver for the insolvency proceedings is appointed Munich-based lawyer Oliver Schartl. He was not available for further comments. It is expected that Steppenwolf will soon find an investor.