WETTER, GERMANY – Schoeller Electronics has entered preliminary insolvency proceedings, while continuing business operations, according to reports.
The PCB fabricator’s approximately 200 employees were informed and will receive their salaries for the next three months. The company is currently running without a manager, as the managing director cannot leave the UK because of the Covid-19 lockdown.
Lawyer Michael Lojowsky was named provisional administrator and can make decisions independently in the preliminary insolvency proceedings. He is examining restructuring options, the reports said.