Existing customer relationships will continue to be served while management works on a restructuring plan for the company, which focuses on lithium-ion storage systems. The Frankfurt restructuring experts Sven Tischendorf and Dr. Alexander Höpfner from act. The Aschaffenburg District Court awarded Dr. Markus Plathner from Brinkmann & Co appointed as provisional administrator.
According to the company, the loss of a major customer led to an acute liquidity crisis. The resulting legal disputes and costs would have further exacerbated the situation. BMZ Holding had to file for subsequent insolvency due to a letter of comfort for its German subsidiary.
The international companies of the BMZ Group should remain unaffected. The company operates additional locations in the USA, France, Poland, China and Japan. According to a statement, business activities will continue there without restrictions. With over 2,300 employees worldwide, the group achieved sales of around 440 million euros in 2024.
Current operations in Germany are maintained through bridge financing from the shareholders. The partners include Quandt heiress Susanne Klatten’s Skion Holding, which acquired a 20 percent stake in the BMZ Group in 2022.
The consultants at a glance
Consultant BMZ
act AC Tischendorf (Frankfurt): Sven Tischendorf, Dr. Alexander Höpfner (Managing Director; both insolvency law/restructuring)
Administration
Brinkmann & Partner (Frankfurt): Dr. Markus Plathner (provisional administrator), Sebastian Netzel (both insolvency law/restructuring)
Consultant shareholder
Wellensiek (Heidelberg): Alfred Hagebusch (lead; insolvency law/restructuring) – known from the market
Consultant banks
Linklaters (Frankfurt): Dr. Sabine Vorwerk (lead), Tobias Klupsch; Associates: Dr. Johannes Gottwald, Dr. Daniel Zhou (all banking and finance law/restructuring) – well known from the market
background: The Tischendorf/Höpfner duo from act are regularly in demand in operational roles at companies in crisis situations. At the retailer Depot in 2024, Tischendorf acted in a tried and tested division of labor as CRO (Chief Restructuring Officer), Höpfner, who is also appointed nationwide as an administrator, as CIO (Chief Insolvency Officer).
The court-appointed administrator is Plathner from Brinkmann & Co, another well-known restructuring agent and often appointed administrator, who is also seen as a general representative in the Muldentalkliniken Group’s self-administration proceedings around spring 2025. Together with partner Dr. Christoph Morgen is also currently pretending to be the trustee of the shares of the Webasto owning families.
According to JUVE information, BMZ shareholders are supported by a Wellensiek team led by senior partner Hagebusch.
According to market information, the credit institutions rely on Linklaters partner Vorwerk. As far as is known, the team was already involved in restructuring efforts before insolvency and is now supporting the banks in exercising their creditors’ rights. Vorwerk also regularly acts on the debtor side and advises on distressed deals, for example this February on behalf of the US company Anew Climate when it entered into contracts with the biomethane supplier Landwärme.
