FAZ exclusive: River Rock is behind millions of loans to insolvent Alno

The insolvent kitchen manufacturer Alno has received a bulk loan of six million euros of River Rock to information from the FAZ. With the money salaries to be paid for the time being.

The British investment company River Rock, which was also the German consultants Roland Berger legend and the Egyptian billionaire Naguib Sawiris is involved, is for information the Frankfurter Allgemeine Zeitung behind the debtor-in-possession financing of 6 million euros to the insolvent food group Alno. The emergency loan had come on Thursday in dire need about after the preliminary insolvency administrator Martin Hörmann was probably rebuffed elsewhere. As can be heard from business circles, customers, suppliers and also current shareholders were not willing to take another risk. River Rock, which could not be reached for comment, had previously heard about the creditors and apparently planning in Alno case, additional transactions.

Thus, the FAZ has learned (Prevent) will replace more than 3 million euros and the investment company Robus Capital Management in the amount of 10 million euros that the British investment company probably debtor-in-possession financing of Alno main shareholder Tahoe. As collateral factory premises of production in Coswig / Sachsen-Anhalt as well as plants from Alno in Pfullendorf and at the Enger site / East Westphalia serve here. Robus, which also gave no comment on Friday, had permits before the bankruptcy of the kitchen manufacturer has a loan of 15 million euros and received as collateral the Alno plot in Pfullendorf.
What is behind the strategy of River Rock, is still unknown. As can be heard as security for the 6 million euros a now-settled liability of Alno AG against the supplier Bauknecht could be of at least 8 million euros, which is estimated to be contestable. Hörmann liquidator had after announcing the height of the new mass loan only said that the search for new investors would be in a “decisive phase.” “We expect that in the near future binding bids will be received.” At River Rock and the loan but also Hörmann declined to comment.

No more money: the production kitchen manufacturer Alno rests

The money he can use for interim financing. Only up to this Saturday, the state has paid insolvency money for approximately 1,600 employees, now the listed company must have the accept themselves. Next week the insolvency proceedings to be opened at the District Court Hechingen, according to Hörmanns. Alno has made almost entirely loss since its IPO in 1995th
The question is whether Alno can survive at all or which parts of the subsidiaries also Pino Wellmann are to save. A rumor circulated that allegedly a Chinese investor who has been active in the Far East in the real estate business and wants to equip the homes with German kitchens, to show interest in the brand Alno.
The current production rests in the three Alno works. Against this background, new orders were received neither Alno still at the subsidiaries, it is said by the insolvency administrator. But you try to continue to explore opportunities with interested customers to find a solution to solve the problem of missing parts of incomplete deliveries kitchens.

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