Insolvent traditional bakery saved – more than 70 jobs preserved

Drave GmbH (hereinafter referred to as “Stadtbäckerei Schenefeld”) has established itself as a traditional backery in the metropolitan region of Hamburg. With its 120-year company history, the company employed up to 100 people and ran its own production facility in Schenefeld. Due to its weak financial situation, the Stadtbäckerei Schenefeld submitted an application to open insolvency proceedings at the insolvency court in Pinneberg in May 2020.

Centuros exclusively supported the insolvency administrator Dr. Böhm from the law firm Münzel & Böhm in finding a suitable investor in the aim of to preserving both jobs and business operations. Already during the preliminary insolvency proceedings, potential investors could be identified and convinced by the insolvent company. As Stadtbäckerei Schenefeld is a training company with its own production facilities and highly qualified specialists, the strategic investors’ interest in the company was particularly high.

On July 15, 2020, eight of the ten locations in Hamburg and Schleswig-Holstein were taken over by the bakery / pastry shop H. von Allwörden GmbH (“Allwörden”) as part of an asset deal and integrated into their own business operations. In addition to the branches, 73 skilled workers from the Schenefeld town bakery will be taken on and the respective jobs will be secured.

We are pleased that we were able to support the Stadtbäckerei Schenefeld together with Münzel & Böhm in their search for new investors and wish the new buyer and the acquired employees continuing success for the future.

Münzel & Böhm

Dr. Gideon Böhm

Centuros

Carlos Rodrigues (Partner)

Martin Alexander Schneider (Consultant)