Chief executive Reiner Beutel says the company has “checked alternative scenarios to regain solvency”, and hopes that a restructuring process will allow it to get back to competitiveness.
Sovello has enough money to pay its staff to the end of July 2012, and will remain operational for the time being.
“The smoother the business can operate in the short-term, the more chance we have to rehabilitate it in the medium and long term,” says Bernd Depping, who has been named interim trustee.
Sovello
