600 Jobs Lost - What Happens Now at Allgaier - Allgaier Automotive secures jobs and future after insolvency filing in 2023
Allgaier Automotive GmbH, which filed for insolvency in June 2023, has secured the best possible outcome for employees. Despite a potential investor in the main site withdrawing, operations will continue until the end of 2025. Insolvency administrator Michael Pluta expressed satisfaction with the result, stating that it's the best scenario under the circumstances. A social compensation plan and reconciliation of interests have been finalized, ensuring a smooth transition for the roughly 600 employees at the Uhingen headquarters. Most employees will move to a transfer company to assist in finding new jobs, while a small team will remain in administration to handle the wind-down process until mid-next year. Operations will cease by the end of this year. The roughly 120,000-square-meter Allgaier property in Uhingen is now set to be sold. While the insolvency recovery rate cannot yet be determined, the administration will provide figures after all assets have been liquidated. The sale of the Uhingen property and the transition support for employees are positive steps forward in the insolvency process.
