German Cabinetry Brand Neue Alno Has Once Again Filed For Bankruptcy Proceedings. It Had Laid Out The Chinese Market In 2018
Neue Alno Has Once Again Filed For Bankruptcy Proceedings
German kitchen manufacturer Neue Alno has filed for bankruptcy proceedings at the end of June and will go into self-administration, according to reports in various German media on 5 July. After Neue Alno goes into self-administration, managing directors Jochen Braun and Michael Spadinger will be provided with an administrator by the bankruptcy court.
In 2017, Alno had been acquired by the British investment company RiverRock for approximately €20 million due to insolvency. At the end of February 2018, Neue Alno resumed production at its factory in Pfullendorf, submitted its first order for kitchens at the beginning of March that year, and started mass production of the full range of cabinets in mid-March. the head of the ALNO brand office in China, Li Yiwei, had said in an interview with Kitchen News in December 2018 that ALNO would set up a general agent to lay out the first and second-tier major markets. RiverRock has been looking for a new investor for the Alno brand for more than three months. German media said the company made this choice to help the company survive the epidemic crisis while supporting its 230 employees, customers, and suppliers.
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