Flensburger Schiffbau-Gesellschaft and Nobiskrug shipyards are temporarily insolvent, raising concerns about investor Lars Windhorst’s management amidst broader financial issues in his ventures. The Flensburg District Court has appointed provisional administrators, while two subsidiaries remain solvent, complicating the proceedings. Windhorst aims to preserve the shipyards and engage in dialogue with insolvency authorities, but 500 employees await unpaid salaries, reflecting ongoing challenges. Local officials criticize Windhorst, calling for a future devoid of his influence to revitalize the sites.
Insolvency Crisis at Flensburg and Rendsburg Shipyards
The shipyards Flensburger Schiffbau-Gesellschaft and Nobiskrug in Rendsburg are currently facing temporary insolvency, raising eyebrows over the performance of investor Lars Windhorst. Additionally, there are mounting financial issues with several of his other ventures.
As of today, the Flensburg District Court has declared multiple companies within the shipyard group FSG-Nobiskrug temporarily insolvent, following a request from a health insurance firm. Lawyer Christoph Morgan has been appointed as the provisional insolvency administrator for the group, while Hendrik Gittermann has taken on the same role for the Nobiskrug shipyard in Rendsburg.
Interestingly, two subsidiaries that own the land occupied by the shipyards have not been declared insolvent, leaving uncertainty about the future direction of the ongoing insolvency proceedings.
Challenges for Windhorst and Shipyard Employees
The Tennor Group, owned by Lars Windhorst, is at the heart of this crisis. In a recent statement, Windhorst expressed his dedication to preserving the shipyards, emphasizing that he is engaged in constructive dialogue with the insolvency administration. He has proposed a “position of a mass credit” to support the rehabilitation efforts, hoping to foster a more rational discussion around the shipyards’ future.
However, the personal implications of this insolvency for Windhorst remain uncertain. The Kiel public prosecutor’s office has been conducting investigations into the FSG-Nobiskrug group for several months, focusing on allegations that include delaying insolvency. The situation has been met with mixed reactions, as IG Metall labeled the day of insolvency as a “day of liberation.”
Approximately 500 employees have been left waiting for their salaries for weeks, with Windhorst’s group reportedly delaying partial payments. Workers have also voiced concerns over a significant lack of job opportunities, leading to makeshift measures to maintain operations, such as engaging in landscape maintenance and roadwork.
Schleswig-Holstein’s Prime Minister, Daniel Günther, has openly criticized Windhorst, insisting that promises made for the shipyards have not been fulfilled. Along with Economic Minister Claus Ruhe Madsen, he has called for a future without Windhorst to ensure the revitalization of these crucial industrial sites.
Windhorst has consistently defended his position, claiming in a mid-November media letter that he has been striving “by all means to save the shipyards from sinking” since his investment began.
As the situation unfolds, it remains to be seen how Windhorst’s past and current financial struggles will influence the future of the shipyards and their workforce.