Jobs and locations at lift maker Nussbaum secured

摘要

FOLLOWING THE NEWS that Nussbaum had got into financial difficulties due to the costs of restructuring process that had been going on since 2014, high repayment charges, a slump in demand and the effects of the COVID19 pandemic, its future has now apparently been secured. Our German sister publication Neue Reifenzeitung's online portal reifepresse.de reports that after the bankruptcy of parent company Otto Nussbaum GmbH & Co. KG, the insolvency administrator Dr. Dirk Pehl of Schultze & Braun sold the business to the newly-founded Nussbaum Custom Lifts GmbH effective 1 July 2020, which is also connected to the Nussbaum family. As a result, around 220 employees will be transferred to the new company and the firm's production sites in Kehl are to be retained.