NARVA Lichtquellen

General information

Industry:

fluorescent lamps

Employees:

approx. 400

Turnover:

roughly EUR 40 million

Region:

national

Initial situation

NARVA Lichtquellen GmbH & Co. KG was mainly engaged in manufacturing and selling fluorescent lamps. For some time, NARVA had been suffering from market weakness in the fluorescent lamp sector in the area of general lighting - fuelled by the continued price decline on the market, in particular due to overcapacities in Asia and competition from LED lighting. In the autumn of 2016, the company filed for insolvency in order to reassemble itself by means of insolvency protection proceedings.

Services

Restrukturierungspartner accompanied and advised NARVA during the insolvency protection proceedings. Dr. Stefan Weniger complemented the previous management for the duration of the proceedings as chief restructuring officer (CRO) and was responsible for planning, implementing and controlling the restructuring: the preparation of the application, negotiations with creditors and the preparation of a restructuring concept for the continuation of business during insolvency protection proceedings as well as the implementation of the restructuring measures. Within less than six months, the restructuring of NARVA was successfully completed.