Three German subsidiaries of Belgian chemical giant DOMO Chemicals have filed for insolvency, the companies have confirmed. DOMO Chemicals GmbH, DOMO Caproleuna GmbH, and DOMO Engineering Plastics GmbH are affected.
The local court has appointed Lucas F Flöther, a name partner at law firm Flöther & Wissing, as preliminary insolvency administrator. Flöther said he plans to continue business operations while reviewing restructuring options.
“Day-to-day operations are continuing at all locations. Manufacturing and customer deliveries remain uninterrupted,” Flöther emphasised. He and his team are already on site informing the roughly 585 employees about the situation. Wages and salaries are secured for the next three months…