DyStar to continue full operations – including leather2 December 2009
Following the formal commencement of insolvency proceedings on December 2, DyStar Textilfarben GmbH will continue full operations. ‘We will maintain business activities, the global supply of dyes, additives and services for the textile and leather processing industries are currently continued’, the insolvency administrator appointed by the Frankfurt District Court, Miguel Grosser from the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter, has confirmed in a press statement.
In addition to around 70 permanent employees of DyStar Textilfarben GmbH in Frankfurt, a further approximately 160 DyStar staff can thus be kept on. The continuation of business activities will also mean that over 2,000 staff at still solvent foreign subsidiaries will for the time being will also keep their jobs.
‘It allows us to offer potential investors a fully operative enterprise with efficient operations as a key argument in ongoing talks’, Grosser underlined. ‘We continue to be in negotiations with strategic investors.’ These are expected to carry on throughout December.
With the commencement of insolvency proceedings on December 1, 2009, DyStar Textilfarben GmbH will now have to generate the salaries of its employees on its own again.