Sawmills and toolmakers that rely on Vollmer to keep their saw blades sharp can continue to deal with the German company as usual, with its subsidiaries in 16 countries outside the insolvency proceedings. That is according to GÖRG, the law firm advising Vollmer, which said last week that a court in Ravensburg, Baden-Württemberg, had ordered provisional insolvency proceedings, leaving the family firm’s management in charge.
“In the current situation, we are focusing on VOLLMER WERKE’s core competencies in order to remain stable in the long term,” said Dr Holger Leichtle, a restructuring partner at GÖRG. The firm said the filing was needed to stabilise Vollmer’s finances in a market marked by “a generally difficult…