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German kitchen manufacturer Neue Alno has filed for bankruptcy proceedings at the end of June and will go into self-administration, according to several German media reports on July 5. After Neue Alno goes into self-administration, managing directors Jochen Braun and Michael Spadinger will be provided with an administrator by the bankruptcy court.
Sa 2017, Alno had been acquired by British investment firm RiverRock for approximately €20 million due to insolvency. At the end of February 2018, Neue Alno resumed production at its plant in Pfullendorf. At the beginning of March of that year, it submitted its first kitchen orders and started mass production of the full range of cabinets in mid-March. In December 2018, the head of the ALNO brand’s China office, Li Yiwei, had said in an interview with Kitchen News that ALNO would set up a general agent in the Chinese market and layout major markets in first- and second-tier cities.
RiverRock has been looking for new investors for the Alno brand for more than three months. German media said the company made the choice to help the company survive the epidemic crisis, while supporting its 230 employees, customers and suppliers.
