DyStar is delivering to customers again
15/10/2009
DyStar, the chemical company and global supplier of dyes, additives and services for the leather industry, has said it will continue to supply its customers in spite of having filed for insolvency on September 28.
In a statement dated October 14, one of the court-appointed preliminary insolvency administrators, Miguel Grosser, said: “We have made great progress in our talks with banks and secured creditors. This allows us for the time being to continue our operations at DyStar Textilfarben GmbH and resume delivery of our products.”
He confirmed that deliveries to customers had resumed on Monday, 12 October and production at the company’s facility in Geretsried in Bavaria has been started again.
Mr Grosser said that 79 permanent members of staff based in Geretsried were now being paid their September salaries.
Fellow insolvency administrator Dr Stephan Laubereau said negotiations with potential future investors in the business were at an early stage.
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