Three times in the past four years Kettler had to file for bankruptcy - now it's really not going on at the Kettcar manufacturer. 70 years after its founding, the leisure equipment manufacturer has had to definitively close its German plants. Thus, the remaining approximately 550 employees in Werl and Ense will lose their jobs.
"We can not continue production," said lawyer Martin Lambrecht, who advises the Kettler management in the current insolvency proceedings. The decision was supported by the creditors' committee. In today's size, production in Germany is no longer profitable.
The Kettler employees were informed on Monday at a works meeting about the decision to close the management. According to Lambrecht, the opening of bankruptcy proceedings this week is expected to release 400 employees. "With 144 employees, we will continue to work for the time being to handle the production," said Lambrecht.
Long descent
Company founder Heinz Kettler had made the company after the Second World War to one of the leading manufacturers of sports equipment, bicycles and garden furniture. Among other things, he claimed to have launched the world's first aluminum bicycle in 1977. The Kettler exercise bike Golf was one of the most popular fitness equipment in Europe in the eighties.
Above all, Kettler became known for pedal cars: the Kettcars, which the company founder invented in 1961. The former Formula 1 star Michael Schumacher also turned his first rounds like millions of other children. More than 15 million copies were sold. The Kettcar got even its own Dudeneintrag as "pedals over a chain driven child vehicle".
However, the shops have been running badly for some time, at the latest after the death of the founder in 2005. In 2009, Kettler had to reduce hundreds of jobs. In 2015, the company first filed for insolvency self-administration. But succeeded after the reduction of about 200 jobs and the sale of the bicycle division a fresh start.
The entry of the financial investor brought no turnaround
In 2018, however, Kettler had to go to the insolvency court again. At times, closing the company seemed more likely than a continuation. Only the entry of the financial investor Lafayette Mittelstand Capital at the beginning of the year saved Kettler for the time being. At the time, the new owner announced that he wanted to "get the curve from the traditional to the trendy brand" with Kettler. At first, Lafayette did not comment on the decision to close down.
Just seven months later, the company again had to file for insolvency self-government. According to consultant Lambrecht, the brand name could possibly continue to exist, but no more products are manufactured in Germany: "A Kettler as before will not exist in the future."
