Matthias Hofmann of the law firm Pohlmann Hofmann was appointed as provisional insolvency administrator for Banovo. The insolvency filing stems from failed shareholder negotiations regarding the company's future financing. Although individual shareholders were willing to continue financing Banovo, an agreement among the shareholders could not be reached.
The 2015 Mareike Wächter The startup, founded by Michael Dreimann and his wife, offers its customers a digital concept for bathroom renovations and refurbishments. Customers can purchase a complete bathroom renovation online, and the planning and preliminary discussions are also conducted digitally. According to the company, Banovo recently employed 85 people at five locations in Germany.
Broad investor search planned for Banovo
The provisional insolvency administrator and his team are currently getting an overview of the company and the status of ongoing bathroom renovation projects. The company's business partners will be informed about the current status very shortly. Furthermore, Hofmann has already contacted several potential investors and is planning a broad investor search soon. He says:
"In the interests of Banovo's customers, team, creditors, and business partners, we must strive to do everything we can in the coming weeks to achieve the best outcome for everyone involved."
In addition, pre-financing of insolvency benefits is currently being prepared for the approximately 85 employees:
"Employees' wages are secured through insolvency benefits until April 2023. Until then, we will work together to find a solution for the company's future."
