German arches in Sassnitz: Despite the millions of support!

German arches in Sassnitz: Despite the millions of support!

In the small town of Sassnitz on the island of Rügen, a financial crisis causes excitement. The pipe manufacturer Deutsche Bogen had to register bankruptcy and thus brings both local jobs and the country's huge investments. These measures were supported with a proud amount of almost nine million euros. But now reality looks different: the company has debt of around 4.2 million euros, while the liquidity is only 280,000 euros. This situation was found in an expert opinion of the Stralsund District Court, which led to the opening of a regular bankruptcy proceedings, such as ndr reported.

The matter is exciting by the complaint of the Sassnitz Mukran ferry, which demands around 1.5 million euros from German Burn and the evacuation of the land used. According to the [Landtags-MV] (https://www.landtag-mv.de/dpa-ticker?tx_w3dpa_dpa 4bection%5D=detail&tx_w3dpa _dpa%5BController%5D = dpa & tx_w3dpa_dpa%5buid%5D = 82711 & chash = 3611e1856B639E008DB5B7594BB03) the company could now get into the crucifixion of the creditors who can register their claims. A preliminary insolvency administrator has already been appointed to check the situation of the company and to create a corresponding expert opinion.

The background of bankruptcy

It was not until July 2023 that the DAK had submitted an insolvency application for backward social security contributions, which, however, ended in March 2024. However, Managing Director Ibrahim Mirmahmutogullari is optimistic and emphasized that the company is not insolvent, but pays all ongoing operating costs and salaries on time. He even sees the settlement of German Arches in Sassnitz as a success story, despite the current turbulence.

The company was founded in 2016 under the screen of political prominence, including Former Chancellor Angela Merkel, who was present when 65 new jobs were promised. Now it remains to be seen how the jobs and the financial situation of German arches will continue.

difficult future prospects

The forecasts are not rosy: the expert sees little chance of a positive continuation of the company. The Ministry of Economic Affairs also checks whether the funding issued may have to be reclaimed, which could further make the situation of German arches more difficult. The rapidly changing economic landscape makes the company a sad example of how quickly successful company stories can turn.

While ports and companies are fighting for financial stability, the question arises: How can an economically challenged space like Northern Germany succeed in effectively counteracting times in crisis times? You can read information about this and other exciting developments at The Indat.