The temporary insolvency administrator for Bellarex Personal GmbH is striving to find an investor to acquire the company. The personnel services provider filed for insolvency on 26 September 2014. With an order issued on the same day, the responsible court, Mannheim Local Court, appointed Mr. Rainer Bachert, a restructuring expert and attorney at PLUTA Rechtsanwalts GmbH, as the temporary insolvency administrator.

In the meantime, Bachert and his team have been able to gain a comprehensive overview of the situation. The temporary insolvency administrator emphasises: “Business operations will continue seamlessly. We are in close coordination with all parties involved. Customers have stayed loyal to us, which is a major factor for successful restructuring.” Employee salaries are currently secured thanks to the so-called substitute benefits.

Mr. Bachert has already started discussions with prospective buyers concerning a potential acquisition of the personnel services provider. “The discussions are developing in a promising way. It is our aim to preserve the jobs and to achieve the best possible result for the creditors”, added the restructuring expert.

The fact that the company had filed for insolvency at an early stage has contributed to the positive development of the initial phase in the restructuring process. The company had got into financial difficulties due to a decline in liquidity. With a workforce of 60 employees at the German Weinheim and Bruchsal sites, Bellarex provides companies with qualified staff to bridge capacity bottlenecks.