Restructuring Experts see good Future Prospects for the Hock Group

Following the decision taken on 1 July 2016, the competent local courts have opened insolvency proceedings as planned for the companies in the Hock Group. The insolvency administrators are continuing the full scope of business activities performed by the six operational Hock companies and see good prospects for the supplier of parts to the car and electrical industries. At the same time, the restructuring experts Michael Pluta, Dr Stephan Thiemann, Stephan Ammann and Florian Schiller from the law firm PLUTA Rechtsanwalts GmbH together with Dr Jan Markus Plathner from Brinkmann & Partner are continuing to restructure the Hock companies and are currently holding promising talks with prospective investors. The insolvency administrators have commissioned the hww team set up around the expert Burkhard Jung to coordinate the M&A process. The insolvency administrators are aiming to achieve a long-term solution for all the companies and employees.

Funding for the companies is ensured. Despite the ongoing proceedings, the administrators and their teams succeeded in keeping nearly all the important customers. All the deliveries to customers will be made on time. Thanks to the positive order situation and the support from the suppliers and customers alike, none of the staff had to be laid off. Individual companies are even making a point of employing staff at the moment.

The restructuring expert Mr Michael Pluta from PLUTA Rechtsanwalts GmbH was appointed as the insolvency administrator for the Stuttgart-based Hock Holding GmbH & Co. KG. Dr Stephan Thiemann from PLUTA is the insolvency administrator for both Hock Sachsen GmbH and Werkzeugbau Weigel GmbH from Grünhain-Beierfeld in Saxony. The PLUTA attorney Mr Stephan Ammann was appointed as the insolvency administrator for Dressel + Höfner GmbH & Co. KG from Neustadt in Upper Franconia. The insolvency administrator for Hock GmbH from Schönwald in the Black Forest is PLUTA’s Mr Florian Schiller. Dr Jan Markus Plathner from Brinkmann & Partner will act as the insolvency administrator for b.s.u. biebertaler stanz- und umformtechnik GmbH from Biebertal in the state of Hessen. Furthermore, the insolvency proceedings were opened for the two management companies.

At the beginning of May 2016, the Hock Group had to file for the insolvency of the eight companies in the group. The group of suppliers of the car and electrical industry currently has a workforce 800 employees working at five sites in Germany and at one site in Romania. However, the foreign company is not affected by insolvency.

The internationally operating group of companies has been supplying the car and electrical industry for more than 65 years. The Hock Group mainly produces tin and plastic parts as well as metal parts using powder injection moulding for renowned customers. The company is well known in the sector for its high level of quality and know-how.