PLUTA Rechtsanwalts represented ZSK GmbH in the process.
Restructuring expert Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor solution for ZSK GmbH. Following negotiations with several investors, a management buyout (MBO) has now been completed with the establishment of a new company, ZSK Automotive GmbH. A total of 20 jobs have been saved as a result.
Automotive service provider ZSK had to file for insolvency in late August 2020 due to liquidity problems. The company had been severely affected by the consequences of the coronavirus pandemic. On 1 November 2020, the insolvency proceedings were opened for the company’s assets and Mr Michael Pluta was appointed insolvency administrator. The PLUTA restructuring team kept the business going for several months, and the important business in China was also retained. In addition, necessary restructuring measures were implemented and the company’s cost structures were significantly improved in recent months.
ZSK GmbH was founded in 1996 and is engaged in toolmaking with a focus on exterior body parts. It also helps its customers to improve current series production where pressed part quality is lacking and to boost product quantities. ZSK is a certified service provider and carries out work for automakers, automotive suppliers and well-known industrial toolmaking companies. The company operates worldwide, especially in the EU, China, the US and Russia.
The Pluta team included Michael Pluta (Picture) and Stefan Warmuth.
Law Firms: PLUTA Rechtsanwalts GmbH;
Clients: ZSK GmbH;