Thüringer Autohausfirma mit 165 Mitarbeitern rutscht in die Insolvenz from

Thuringian Car Dealership with 165 Employees Files for Insolvency

Difficult Economic Situation and Weak Demand Lead to Company's Failure

Erfurt, Germany - The Thuringian car dealership company, Autohausgruppe Thomas Müller GmbH, has filed for insolvency. The company, which employs 165 people, has been struggling in recent months due to the difficult economic situation and weak demand for new and used cars. The insolvency administrator, attorney Holger Leichtle, has been appointed by the local court in Erfurt to handle the insolvency proceedings.

Financial Situation and Causes of Insolvency

According to Leichtle, the company has liabilities of around 30 million euros and assets of around 20 million euros. The main reason for the insolvency is the significant decline in sales in recent months. This decline is due in part to the general economic downturn and the associated decline in consumer confidence.

In addition, the company has also been affected by the shortage of new cars due to supply chain disruptions caused by the COVID-19 pandemic. This has led to longer delivery times and higher prices for new cars, which has further reduced demand.

Consequences for Employees and Customers

The insolvency has serious consequences for the 165 employees of the car dealership. The insolvency administrator is currently examining the possibilities of continuing the business and saving jobs. However, it is unclear at this time how many jobs can be saved.

Customers who have already purchased a car from the company will not be affected by the insolvency. However, customers who have ordered a car but have not yet received it may face delays or even the cancellation of their order.

Outlook for the Future

The insolvency administrator is currently working on a plan to restructure the company and continue its operations. However, the success of this plan is uncertain. The company faces a number of challenges, including the difficult economic situation, the shortage of new cars, and the high level of competition in the automotive industry.