Deutsche Bogenn in Sassnitz: Bankrupt despite millions in funding!

Deutsche Bogenn in Sassnitz: Bankrupt despite millions in funding!

In the small town of Sassnitz on the island of Rügen, a financial crisis is causing excitement. The pipe manufacturer Deutsche Bogenn had to file for bankruptcy, putting both local jobs and the country's huge investments in jeopardy. These measures were supported with a proud amount of almost nine million euros. But now the reality looks different: the company has debts of around 4.2 million euros, while liquidity is only 280,000 euros. This situation was identified in a report by the Stralsund district court, which led to the opening of regular insolvency proceedings, as NDR reports.

What makes the matter exciting is the lawsuit filed by the Sassnitz Mukran ferry port, which is demanding around 1.5 million euros from Deutsche Bogenn as well as the evacuation of the land in use. According to the [State Parliament MV](https://www.landtag-mv.de/dpa-ticker?tx_w3dpa_dpa%5Baction%5D=detail&tx_w3dpa _dpa%5Bcontroller%5D=Dpa&tx_w3dpa_dpa%5Buid%5D=82711&cHash=3611e1856b639e008db5b7592b94bb03) The company could now find itself in the crossfire of creditors who can register their claims. A provisional insolvency administrator has already been appointed to examine the company's situation and prepare a corresponding report.

The background to the bankruptcy

It was only in July 2023 that DAK filed for insolvency due to arrears in social security contributions, but this was ended in March 2024 after the claims were settled. However, managing director Ibrahim Mirmahmutogullari is optimistic and emphasizes that the company is not insolvent, but rather pays all ongoing operating costs and salaries on time. He even sees Deutsche Bogenn's settlement in Sassnitz as a success story, despite the current turbulence.

The company's founding in 2016 took place under the auspices of political celebrities, including former Chancellor Angela Merkel, who was present when 65 new jobs were announced. Now it remains to be seen what will happen to Deutsche Bogenn's jobs and financial situation.

Difficult future prospects

The forecasts are not rosy: the appraiser sees little chance of the company continuing to operate positively. The Ministry of Economic Affairs is also examining whether the funding spent may have to be reclaimed, which could further complicate Deutsche Bogenn's situation. The rapidly changing economic landscape makes the company a sad example of how quickly successful business stories can turn around.

While ports and companies are fighting for financial stability, the question arises: How can an economically challenged area like Northern Germany be able to take effective countermeasures even in times of crisis? You can find information about this and other exciting developments at Der Indat.