German loader crane and excavator manufacturer Atlas has filed for administration at the Delmenhorst District Court. The decision follows the insolvency court’s order of preliminary self-administration last Friday.
Business operations will continue, including normal production, spare parts service, and customer support. Other companies in the group – Atlas Spare Parts, Atlas FF, Atlas Group Services, and Atlas Kompakt – are also threatened with insolvency, and applications for self-administration have also been filed for them.
Self-administration proceedings are only ordered by the insolvency court if, after a thorough examination, and if there are viable prospects for restructuring and the company's continued operation is financially secured for the duration of the proceedings. The management remains in full control and will manage the restructuring itself, although the progress will be overseen by a court-appointed administrator.
To support the management team, restructuring experts Malte Köster and Hans-Joachim Berner from law firm KösterBerner have been appointed as general representatives. Attorney Hendrik Gittermann of Reimer Law has been appointed provisional administrator by the local court.
Atlas was established in 1919 and was once a challenger to Hiab for leadership of the loader crane market until Palfinger became a force. The Atlas companies involved in the process employ around 400 people with revenues in the region of €150 million.
The Atlas stand at Bauma The company said: "The situation stems from a prolonged, industry wide market weakness in the construction machinery market, which led to a significant decline in orders and lower capacity utilisation. Atlas had already initiated extensive restructuring measures prior to filing for insolvency and was supported in this by liquidity contributions from its shareholders. Despite these efforts, liquidity shortages could not be resolved. Ultimately, some disruption cannot be completely avoided. The self-administration proceedings now provide the necessary legal framework to consistently implement the restructuring already underway and to sustainably stabilise the company. Employees have been informed about the next steps. Wages and salaries are secured through insolvency benefits until the end of April 2026.”
Malte Köster added: “Atlas is operationally efficient and has a strong brand. The administration proceedings now create the legal framework to consistently implement the restructuring and sustainably stabilise the company. Our goal is to develop viable prospects together with all stakeholders.”
In parallel with the restructuring measures, a structured international investor process will be initiated in the coming days to obtain additional options for a sustainable continuation of the business.
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