- DOMO Chemicals in Germany failed to secure additional financing.
- Polytechnyl enters judicial reorganization to ensure operational continuity.
- Court-appointed administrators will assess financial situation and restructuring options.
- Day-to-day operations continue at French sites with focus on minimizing disruptions.
Background
Polytechnyl has entered judicial reorganization following financial difficulties at DOMO Chemicals in Germany. The company was unable to meet its financial obligations after unsuccessful negotiations with shareholders, banks, and creditors for additional financing.
Judicial Reorganization
The reorganization process aims to provide a protective framework for Polytechnyl to develop a solution with court-appointed administrators. This step is intended to ensure the continuity of the company's operations.
Operational Continuity
Despite the financial challenges, day-to-day operations continue at Polytechnyl's French sites. Efforts are being made to minimize potential disruptions to customer deliveries, with a focus on maintaining safety and service quality.
Next Steps
In the coming weeks, court-appointed administrators will collaborate with management and stakeholders to assess the company's financial situation and explore possible restructuring options.
