PLUTA attorney Dr Wehner seeks investor for furniture component supplier LignoSmart

LignoSmart Holztechnik GmbH based in Lübbecke has filed for insolvency due to liquidity problems. Following this, on 21 June 2024, the Local Court of Bielefeld ordered provisional insolvency proceedings and appointed Dr André Wehner from PLUTA Rechtsanwalts GmbH as provisional administrator. He is now looking for an investor that will make the furniture component supplier fit for the future.

The furniture industry has been in a difficult situation for some time, which has led to a decline in orders for LignoSmart. The business is also feeling the effects of increased wood, transport and energy prices, while the shortage of skilled workers is another major challenge. Several employees in one department are on long-term sickness leave and it is proving very difficult to find qualified staff. The company currently employs eight people. Their salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law.

Restructuring expert Dr Wehner from PLUTA said, “The company is continuing to operate. The discussions with business partners have been very constructive. However, we need an investor to ensure the long-term continuation of the business.” Interested parties should contact the provisional insolvency administrator for further information.

“The situation is not easy, but our employees are loyal to the company. We will support the process of finding an investor. I hope that a solution can be found,” said LignoSmart managing director Mr Björn-Christian Struckmeyer.

LignoSmart Holztechnik GmbH has been a reliable and technically well-equipped partner to the furniture industry since 1999. The company produces furniture components for kitchens, bathrooms, living rooms and bedrooms as well as mobile homes and caravans. LignoSmart has particular expertise in the production of furniture parts with curved fronts that are coated with thermoforming film or laminate according to customer requirements. It has special hydraulic and pneumatic presses for manufacturing curved fronts, moulded wood components and ready-to-assemble free-form and special parts.