The insolvent Höchster Porzellan-Manufaktur GmbH (Höchster Porzellan-Manufaktur) is saved. The business operations of the traditional manufactory were acquired by an investor from Hong Kong, whose investment portfolio already includes a company based in Darmstadt, together with all employees as part of a transferable restructuring as of 31 May 2018. The parties agreed not to disclose the purchase price.
As part of the new start, the company is to be realigned as a lifestyle company. The Höchster Porzellan-Manufaktur is intended to appeal in particular to younger, exclusive customers through new designs and the integration of art.
Johannes von Neumann-Cosel, a partner at FalkenSteg, is delighted with the new owner: “With the Hong Kong investor, the Höchster Porzellan-Manufaktur has found a good new home. Here, both craftsmanship and tradition are valued without neglecting the view to the future. We are happy to have found such a creative and energetic investor”.
Höchster Porzellan-Manufaktur had to file for insolvency at the end of January 2018 due to insolvency. Frank Schmitt from the law firm Schultze & Braun was appointed (provisional) insolvency administrator. He had contacted Falkensteg at the beginning of February 2018 in order to find a solution for the business operations of Höchster Porzellan-Manufaktur, which had been running at a loss for years. “The transfer to the new investor is a very nice result of the insolvency proceedings. On the one hand, because it has been possible to preserve the manufactory as a Hessian cultural asset. On the other hand, because the investor is accompanied by a reorientation that promises a future for the traditional company,” says insolvency administrator Schmitt.
In particular, the Conversion Property Development Company, the lessor of the Höchster Porzellan-Manufaktur, but also the City of Frankfurt and the State of Hesse, have played an active role in saving the company.
Schultze & Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH
Frank Schmitt (Insolvency administrator)
Schultze & Braun is a leading service provider for insolvency administration and consulting for companies in crisis. With around 700 employees at more than 40 locations in Germany and other European countries, Schultze & Braun is one of the few providers to combine legal and business management expertise under one roof. Schultze & Braun supports companies regionally, nationally and internationally in all matters of reorganisation and restructuring, guides them through crisis and insolvency or shows how insolvencies can be avoided. In addition, Schultze & Braun advises and represents clients in matters of classical corporate, legal and tax advice.
Johannes von Neumann-Cosel (Partner)
Georg von Verschuer (Associate)
FINKENHOF Rechtsanwälte Partnerschaftsgesellschaft mbB
Dr. Maximilian von Mangoldt (Partner)
Carolin Brand (Associate)
HEUSSEN Rechtsanwaltsgesellschaft mbH
Georg-René Lubinski (Partner)
FALK & Co Consulting GmbH
Rüdiger Stannek (Managing director)