The lawyer and restructuring expert Philipp Grub from the law firm Grub Brugger takes on the role of general representative during the process and supports the management around Axel Buchholz in the reorganization. The wages and salaries of the 181 employees are secured by the Federal Employment Agency until the end of the year. Business operations should also continue without restrictions if the order situation is good. Kappus makes both solid soap bars and liquid soaps. Some of the products are vegan.
The search for new financiers has already begun at Kappus: “Recently there have already been contacts with serious investors, but initially no agreement could be reached on their entry. However, talks with the investors are now being vigorously resumed in order to find a quick investor solution enable,” explains Hans Konrad Schenk from Grub Brugger. The district court has appointed the Freiburg lawyer Dirk Pehl from the law firm Schultze & Braun as provisional administrator for Kappus.
In September 2018, the traditional company had to file for insolvency under self-administration for the first time after 170 years of company history. Even then, the sharp rise in raw material prices and high price pressure were the reasons for the financial problems. After the restructuring, the then insolvency administrator Franz-Ludwig Danko sold the consolidated group of companies to the Munich investment company Ad Astra in March 2020. The Offenbach site had to close during the course of the renovation. Kappus produces 260 million soaps a year at three locations in Germany and exports to 30 countries.