[Bremen, ] Rizor GmbH & Co KG, which is located in Nesselröden near Duderstadt and maintains a second location in Hildesheim, filed for the initiation of insolvency proceedings on 30 August 2017, and the Bremen Local Court appointed restructuring specialist and GÖRG partner Dr. Gerrit Hölzle as provisional insolvency administrator.

According to Rizor managing director Rüdiger Otto, the company will continue to operate as before, especially as regards its regular routes and school service, under the supervision of the provisional insolvency administrator. Dr. Gerrit Hölzle confirmed this: “Our first impression is very positive. The 217 employees stand behind the company and we expect no disruptions in the operational continuation of regular service with its approximately 150 vehicles.” GÖRG partner Hölzle could of course not comment on the reasons for the insolvency: “We will take a very close look at the company, analyze the reasons for the crisis and do everything necessary to determine existing potential for reorganization and give the company and its employees the best possible perspectives.”

Insolvency proceedings are expected to commence on 1 November 2017.