Current Market Value Appraisal & Online Auction, CD/DVD/Blu-Ray Production
Cinram GmbH, based in Alsdorf in North Rhine-Westphalia, is a leading manufacturer of CDs, DVDs and Blu-Ray Discs. In April 2017, the company, which had more than 1,000 employees, initiated insolvency proceedings under its own management, supervised by attorney Dr. Christoph Morgen of Brinkmann & Partner Hamburg, a specialist in the field of corporate recovery. In order to duly complete the insolvency proceedings, the company’s administration converted the proceedings into a regular insolvency as planned.
In a joint venture with Aryus Handel & Unternehmensberatung GmbH, Lüders & Partner was commissioned by Dr. David Georg of the Düsseldorf law firm Kebekus & Zimmermann Rechtsanwälte to prepare a current market value appraisal.
Six facilities with over 6,500 individual objects, including the usual furnishings as well as very specialized equipment in the areas of disc mastering, electroplating, replication and automatic packaging, were recorded and evaluated in a very short time frame. In July/August 2017, disc production was discontinued, Plant 1 was shut down and the recovery order was issued.
In October 2017, the remaining facilities with over 410 employees were taken over by the Bielefeld logistics company AVOS Logistic GmbH. By November, in addition to preparing the auction, selected machine packages from the production plants and packaging technology had been put out to international tender and sold.
In November 2017, the remaining assets were again successfully sold in an online auction on our auction platform in cooperation with Aryus. In April 2018, the entire area was completely vacated and clean-swept by SN Außenhandel.
Dates & Facts
- Preliminary insolvency
- Regular insolvency proceedings
- Preparation of current market value appraisal
- Partial takeover with partial management by the administration
- Recovery through online auction