Business Continues for Carbon Sports Despite Financial Difficulties at Parent Wissler Group
STUTTGART, Germany – During Eurobike 2019 German Lightweight manufacturer Carbon Sports will open the doors for their in-house show in Friedrichshafen. After last year’s successful house show Carbon Sports will continue this in-house exhibition concept ‘with factory outlet sales and flea market’ during Eurobike despite the current insolvency under self-administration of its parent company Wissler Management & Technologie GmbH.
On 26 June Wissler Management & Technologie GmbH, based in Lenningen near Esslingen, filed for bankruptcy under self-administration. The court filing in Esslingen included the entire Wissler Group and its associated companies. On 1 July, the Esslingen Local Court appointed Dr. Tibor Braun, attorney at Stuttgart law firm Illig, Braun und Kirschnek, as provisional administrator.
In addition to Lightweight-maker Carbon Sports GmbH, also CarboFibretec GmbH and Wissler Technologie GmbH are part of the Wissler Group’s experienced carbon division. Altek GmbH and Alwe-Plast GmbH belong to Wissler Group’s second pillar of agricultural engineering.
‘Taking advantage of the opportunity’
According to the company’s founder, Erhard Wissler, he is taking advantage of the opportunity of sustainable restructuring by applying for self-administration. Restructuring expert Markus Fröhlich of ‘Fröhlich Attorney’s in Stuttgart has been appointed to manage the self-administration. “Fröhlich advises the Wissler Group, steers the self-administration and supports the company in general”, was mentioned in a report of Fröhlich Attorneys. According to the restructuring expert, “a long-term solution should normally be presented and communicated within four weeks of the start of the official procedure in self-administration which was on 1 September. Talks are currently being held with several interested parties.”
“Our aim is to reposition our group of companies,” explains Erhard Wissler. We are facing fierce competition and temporary market declines, particularly for high-quality carbon bicycles. We want to position ourselves as economically stable and competitive in the long term,” states Erhard Wissler.