FFor millions of Germans the racetrainer Kettcar is an unforgettable piece of childhood: but now the manufacturer Kettler threatens the end. If it fails to ensure interim funding for the ailing company in the short term, the company will be terminated this Friday, the company told the German news agency on Tuesday. The approximately 720 employees would then be released.
Kettler had filed a bankruptcy petition in July. The goal was a reorientation with the help of a Luxembourg investor. The investor, however, threw up the towel when the Heinz Kettler Foundation was not ready to meet its requirements.
The company now has great hopes for an attempted moderation by the Land of North Rhine-Westphalia, to which all parties involved, including the foundation, were invited in Düsseldorf. It is probably bridge financing, which would enable the company to conduct further discussions with potential investors.
According to the Ministry of Economic Affairs of Düsseldorf, the Heinz Kettler Foundation plays a key role here. In order to find a new investor at all and thus keep the company, an immediate decision by the Kettler Foundation on the amount of its contribution is absolutely necessary, according to the ministry.
According to the ministry, however, a response from the representatives of the foundation's supervisory board to the invitation for a round table was pending Tuesday afternoon. "Without the involvement of the Board of Trustees, however, a solution does not seem realistic," said a spokesman for the authorities. "We hope that ultimately, in the interests of the company, all parties can still find a cooperative attitude." Initially, no statement was received from the foundation itself.
Kettler has been fighting for years to survive. As early as 2015, it had to file for bankruptcy for the first time. But successful after the reduction of about 200 jobs and the sale of the bicycle department a new start. In 2017, a fatal car accident by the Kettler heiress, Karin Kettler, caused new turbulence.