Märklin Modelleisenbahn maker broke

The German tradition Märklin company is insolvent. The farmer has Modelleisenbahn Amtsgericht Göppingen bankruptcy. Previously, negotiations on new loans have failed - the owner now raise accusations against the banks.

Göppingen - The Farmer Märklin Modelleisenbahn money is expected. Talks with banks about the renewal of 50 million term loan were unsuccessful, the company said. The management, therefore jurisdiction Goeppingen request to open insolvency proceedings.

Operations continue to run initially without restrictions. The company is now remodeling during the process. Märklin, among other things, the Kreissparkasse Goeppingen negotiated.

In the circle of the owner showed him their outrage at the decision by the banks. "The banks' behavior is very strange," said an insider with Spiegel Online, "especially at the beginning of the Toy Fair." The auditing firm KPMG on February 13 had a renovation advice imaginable. "Obviously the banks are not considered necessary, this advice to be seen." Even in a deferral of interest or similar institutions that do not even want to negotiate.

According to "Südwest Presse", the banks' business policy and financial investors Goldman Sachs Kingsbridge, good Märklin had purchased three years earlier, disagrees. The bank is especially prevalent with the change management and consulting firms are not satisfied expensive. The document is based on people in the financial sector.

The last execution of the business a little better

According to the report, 2008 Kreissparkasse around 4.5 million euros in credit valuation adjustments due Märklin need. On Tuesday, it has been said that the toy manufacturer is due to the Christmas business is still solvent.

In addition is also Kreissparkasse Landesbank Baden-Württemberg (LBBW) Märklin lenders. Credit lines of the two financial institutions had expired at the end of January.

It was the latest in operations Märklin was something better. In 2008, sales of the company rose slightly from 126 to 128 million euros. At the same time, the loss fell Märklin in commercial transactions, compared to 2007. Exact figures, the company, however, is not known.

"We are prepared to enter into agreement with the provisional liquidator of the tradition of our company to rehabilitate and stay in the market," said Dietmar Mundil. He admitted that while the restructuring of recent years is not fast enough to make an impact.

In fact, the 150th Anniversary Celebration

For the provisional liquidator was the attorney for Michael Ulm Pluta named the district court announced. He is a lawyer specializing in bankruptcy law. Until the opening of insolvency proceedings, according to court information can be, but is still nearly two months.

Until then, may be important for the employees of insolvency loss money in benefits. Märklin employs about 1,050 staff, 650 in Germany and 400 in Hungary. Workers in Germany is planned for January will no longer pay the salaries received.

There is in this year's celebration: the 150th Anniversary of the exhibitions in several cities and a special exhibition at the company location Goeppingen expected. Bankruptcy is now probably dashed these plans.

wal / dpa / AP

Source: http://www.spiegel.de/wirtschaft/0,1518,605441,00.html


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