GERMANY - The insolvency administrator of Alno AG, one of the largest kitchen manufacturers in Germany, has announced that the group is set to permanently shut down after the last interested potential investor of the business pulled out of negotiations without making an offer.

“We fought and tried everything to find a viable future solution for Alno,” said insolvency administrator Martin Hörmann of Anchor Rechtsanwälte. “But without an investor who would have been willing to invest significant resources to continue doing business, there is unfortunately no future for Alno.”

“I am very sorry about that because I see what Alno means for the people here in the region,” he added. According to Anchor, Alno AG employees will receive their redundancy packages this month.

A team of 60 employees will be employed for a “limited period of time” to take on insolvency-specific tasks, the insolvency administrator said, adding that it hopes to use the “remaining assets” of the business as part of the insolvency process.

Anchor added that components for Pino Küchen – which was sold to a group of investors that includes kitchen furniture manufacturer Nobilia in October – are currently being manufactured by Alno AG for “a limited period of time”.