Germany

Business operations continue without restrictions  Restructuring efforts have already been initiated  Application for provisional insolvency filed  Duisburg, December 23, 2024. The well-known and world's largest pet shop Zoo Zajac from Duisburg has fallen into an economic crisis and is therefore starting an extensive restructuring process. In order to be able to implement the planned measures, an application was filed with the Duisburg Local Court for the opening of preliminary insolvency proceedings. The Duisburg Local Court has granted the application and appointed attorney Sarah Wolf from Anchor Rechtsanwälte as provisional insolvency administrator.  Business operations continue without restrictions  According to the Guinness Book of World Records, the pet shop Zoo Zajac is considered the largest pet shop in the world. The approximately 13,000 m² shop area includes over 1,000 aquariums as well as dozens of pond tanks and aviaries as well as several hundred terrariums. Around 3,000 species with a total of 200,000 animals are housed in the large store. By comparison, the Berlin Zoo has 19,500 animals and 1,000 species. At its peak, Zoo Zajac's turnover was around EUR 15 million.   The operation of the company with the large business in the north of Duisburg in the Neumühl district continues without any restrictions. The salaries of the approximately 150 employees are secured by the insolvency benefit of the Federal Employment Agency. "We informed the employees immediately after the insolvency application. The team wants to support the joint course of restructuring so that Zoo Zajac can look forward to a long-term secure future," explains Anchor attorney and provisional insolvency administrator Sarah Wolf on the current situation. Talks have also already been held with the most important suppliers so that goods can continue to be offered for sale.  The team of Anchor attorney Sarah Wolf will analyse the situation in detail in the coming weeks and concretise the restructuring concept that is already in place. "The conditions for a successful restructuring are good and we can continue the sale without restrictions. The team is also still motivated and pulls along," Sarah Wolf continues. The professional care of all animals is ensured by the unchanged business operations - even over the holidays and the turn of the year.  Inflation and reluctance to buy  The main cause of the crisis at Zoo Zajac is the sharp rise in prices for the purchase of goods and transport. The rising energy costs are also causing problems for the company. The specific trigger for the insolvency application was then several failed loan negotiations for further interim financing. In the past two years after the unexpected death of the company's founder Norbert Zajac, new business ideas have already been developed, but they have not led to the desired success.  Another setback for Zoo Zajac was a change in the regulations for keeping pets. Due to these changed regulations, certain animals from the company's stock were no longer for sale.  After stabilizing Zoo Zajac's business operations in a first step, the search for a possible investor for the company will begin in the coming days. To this end, the procedure is already being discussed with various M&A advisors and industry experts. "We will quickly set up a structured investor process so as not to lose any time," announces the provisional insolvency administrator Sarah Wolf. 

Business operations in the ten retail stores continue without restriction  Higher capacity utilisation expected at the slaughterhouse   Insolvency proceedings opened on 1 January 2025   Nördlingen/Augsburg, January 8, 2025. The restructuring of the regional chain of butcher's shops of Metzgerei Schmid GmbH continues to make good progress. Customer demand for regional and controlled production products continues unabated. The ten branches in the region are still open. The locations of the Schmid butcher's shop include the Augsburg city market and other sales outlets in Augsburg, Friedberg, Meitingen and Wertingen.   Family business in the fourth generation  The company stands for " Genuine Zusamtal sausage and meat specialties” and obtains its meat from farmers in the region. Special emphasis is placed on species-appropriate animal keeping and regional feed. Close cooperation with regional suppliers, short transport routes and in-house slaughtering and processing ensure consistently high product quality. The Schmid butcher's shop was founded in 1934 and is now run by the fourth generation – the managing director is Werner Schmid senior.  In-house slaughtering with high capacity utilization  The in-house slaughterhouse continues to be well utilized. Due to the announced cessation of pig slaughtering at the Augsburg slaughterhouse, further orders are to be expected. "In the future, we will be the only company in the district that will be able to slaughter pigs on a large scale on its own farm. This undoubtedly improves our market position and ensures even higher capacity utilization," explains Managing Director Werner Schmid Sr. about the current situation. Among other things, there was an inquiry from the North Swabian Farmers' Association, which represents a large number of farms in the region. The Schmid butcher's shop has been carrying out its own slaughtering since 1970 and works exclusively with farmers from the region. Another piece of good news for the company is the fact that numerous orders have already been placed for catering at various folk festivals and large regional events.  Insolvency proceedings opened   In the course of further progress of the proceedings, insolvency proceedings were opened on 1 January 2025. The Nördlingen district court appointed lawyer Dr. Alexander Zarzitzky from Anchor Rechtsanwälte as insolvency administrator. The unchanged safeguarding of business operations in production and in the branches is the top priority for Metzgerei Schmid GmbH. In cooperation with suppliers and business partners, successful measures were taken to keep processes stable.   Reluctance to buy as the cause of the crisis  The company's challenges stem from several factors, including reduced consumer propensity, rising energy costs, and higher wage expenses. These additional burdens could only be passed on to customers to a limited extent, with purchase prices even doubling in some cases. For this reason, Metzgerei Schmid GmbH filed for insolvency proceedings on November 6, 2025.    

Bruchsal, Germany—20 March 2025: Diamond Aircraft Group Austria, based in Wiener Neustadt, Austria, has integrated Volocopter with the company headquarters remaining in Bruchsal, Germany.  Diamond Aircraft Group Austria is a subsidiary of Wanfeng Aircraft Division of Wanfeng Auto Holding Group Co., Ltd., and is an internationally renowned general aircraft manufacturer with over four decades of expertise operating internationally. The company’s reorganization of Volocopter will broadens its aircraft and business portfolio into the field of electric urban air transportation, while enabling Volocopter to reduce costs, retain a highly motivated and skilled workforce, and focus on achieving its certification milestones by 2025. The VoloCity, along with its next-generation variants, will continue to evolve successfully over the long term, contributing significantly to the sustainable growth of the aviation industry.  Bin Chen, Chairman of Daimond Aircraft Group states: “The future of aviation is shaped by visionaries. Diamond's stellar portfolio, its manufacturing expertise, and the addition of Volocopter create a formidable lineup of general aviation flying vehicles” Together, we are creating the foundation to advance sustainable air mobility and strengthen Europe as an innovation hub in aviation”  Tobias Wahl, insolvency administrator and partner at Anchor Rechtsanwaltsgesellschaft mbH, added, “Volocopter's expertise and highly motivated team have consistently set benchmarks in the eVTOL industry. With Diamond Aircraft, we have found a strong strategic partner who will build on this foundation. My special thanks go to the employees for their spirit and commitment. I am grateful that the team can carry on with their impactful work in the European economy.” 

Lilium Aerospace GmbH has filed for preliminary insolvency proceedings  Attorney Dr. Robert Hänel from Anchor Rechtsanwälte appointed as Provisional Insolvency Administrator  Business operations suspended for the time being after lack of investor funds  Gauting/Weilheim, February 26, 2025. Lilium Aerospace GmbH has filed for insolvency at the Weilheim Local Court. Today, the court ordered provisional insolvency administration and appointed attorney Dr. Robert Hänel from Anchor Rechtsanwälte as provisional insolvency administrator. Dr. Hänel and his team have already held several discussions with the management and other parties involved in the proceedings to get an initial overview of the situation. Lilium Aerospace GmbH was founded as a successor company of Lilium GmbH and Lilium eAircraft GmbH in order to complete the development of the battery-powered Lilium air taxi with the help of investor money after the insolvency of these two companies. As these funds have not been forthcoming despite several promises, Lilium Aerospace GmbH has now also had to file for insolvency.  Business operations suspended for the time being  According to the company, around 960 employees who have received new employment contracts in the successor company Lilium Aerospace GmbH are also affected by the new insolvency. Due to the lack of investor funds, the new company has not yet been able to pay any salaries. The management therefore recently released the employees from work. Business operations are currently suspended. The provisional insolvency administrator Dr. Robert Hänel is currently in contact with the Employment Agency regarding the further course of action. "It is still too early to make a binding statement at this time," explains Dr. Robert Hänel.  Short-term investor talks targeted  "The initial situation with this second insolvency is complicated. According to the management, investors are still interested in a continuation solution," Dr. Hänel continues. The promised funds are allegedly available, but the transfer has not yet been able to take place due to technical problems. In any case, the utmost urgency is required if operations are to be resumed.