The Journey Continues!
Crises are meant to be overcome. The business operations – and this is most important for all Touratech customers – will remain unchanged.
(Update 02-11-2017: Investors show lively interest)
Dear Touratech customers,
on November 1st, the district court of Villingen-Schwenningen opened the insolvency proceedings as planned and appointed Dr. Dirk Pehl of Schultze & Braun insolvency administrator. As already in the preliminary insolvency proceedings, the business operations remain unchanged. All orders will be processed and delivered as usual. Furthermore, a major customer has placed a bulk order with a volume of several million Euros for the next three years. “This is a huge mark of confidence and shows that also the customers believe in Touratech”, says Pehl.
Meanwhile, the search for Touratech investors looks promising. More than a dozen potential investors for the insolvent specialist for motorcycle accessories made non-binding offers, both from financial investors as well as strategic investors. “Our task is now to receive concrete and final offers as soon as possible in order to find a good solution for the company, and to reassure the employees. The lively interest makes me confident that this will be possible”, says insolvency administrator Dr. Pehl.
For this reason, no job cuts are planned. Due to the steady high demand of their products, Touratech was even looking for new employees during the preliminary insolvency proceedings. In the next couple of days, an employee organization will be elected for the very first time.
Insolvency administrator Dr. Pehl will also attend the important EICMA fair in Milan, where Touratech will be on site as an exhibitor, as usual. “This is about building up trust and being transparent. For this reason, I feel it’s important to be present at the EICMA to communicate with our business partners and customers”, Pehl explains. Already in early November, the insolvency administrator meets worldwide operating Touratech distributors in Orange, France. Currently, the company is also working on the catalogue for the new season. It will be released in January.
On August 10th, Touratech filed for insolvency. The reason was the delayed implementation of a new building. The moving process caused further difficulties with logistics and production. As a result, the losses of production and shortness of supplies finally led to insolvency.
Dear Touratech Customers,
crises are meant to be overcome, to learn from the situation and to emerge stronger. And this is what’s happening at Touratech AG at the moment. The business operations – and this is most important for all Touratech customers – will remain unchanged.
As the production at the Touratech headquarters in Niedereschach / Germany continues at full force, our customers can still rely on the proven Touratech quality. All orders are being processed and shipped like usual to ensure you can realize your adventure on two wheels.
Since the company’s foundation 27 years ago, Touratech AG in Niedereschach has become the epitome of high quality products and a reliable partner in the world of Adventure Motorcycling – and shall remain so in the future.
Hence the application of insolvency Touratech AG in Niedereschach has filed on 10 August is a chance to continue the restructuration of the company and to develop possibilities to provide a sound financial and economic basis. The appointed preliminary insolvency administrator is Dr. Dirk Pehl from Schultze & Braun.
Touratech distributors are independently owned companies and will not be impacted by the restructuring in Germany.
The reason for this crisis is the delayed implementation oft he new building, which was necessary due to increased demand. The associated difficulties with logistics and production as well as the considerable loss of production and supply led to this situation.
But the journey continues – more determinedly, enthusiastically and efficiently than ever. This is what we are working on together.