05-20-2015 / Press releases

Insolvency proceedings opened for Zett Group with 250 employees

Insolvency administrator Prof. Dr. Martini continues lighting manufacturer Zett Optics / Hamburger Wünsche Group takes over the Hellux brand with around 100 employees /

BERLIN, 20 MAY 2015. Today, the Wünsche Group from Hamburg has taken over major parts of the two lighting manufacturers Hellux GmbH and Zett Lite Lighting GmbH. Both companies belong to the insolvent Zett Group with around 250 employees. Since February, the four insolvent companies of the renowned lighting manufacturer have been continued and restructured under the supervision of the current insolvency administrator Prof. Dr. Torsten Martini. 


“We have now been able to sell major parts of the traditional Zett Group to the internationally active Wünsche Group, which intends to take over around 100 employees. This is a success of the restructuring and offers many employees a sustainable perspective. Under the Hellux brand, the newly founded Hellux International GmbH in Laatzen near Hanover will produce and distribute outdoor and indoor lighting. We were able to find a buyer for the interior and exterior lighting segment of Hellux and Zett Lite Lighting who wants to strengthen the Hellux brand. Hellux International wants to further expand its B2B and project business, in particular, and open up new fields of business in architectural lighting,” explained insolvency administrator Prof. Dr. Torsten Martini of the Berlin law firm LEONHARDT RATTUNDE


On 26 February, the Zett Group filed for insolvency in its own administration at the Charlottenburg Local Court, which appointed Prof. Dr. Martini as provisional administrator. Zett Optics GmbH, Zett Lite Lighting GmbH, Zett Hellux GmbH and Hellux GmbH were continued under his supervision. In 2014, these companies generated sales of around 48 million euros with products in the field of urban, building and object lighting as well as special lights in the field of medical technology . Insolvency proceedings against the companies were opened on 1 May. Prof. Dr. Martini was supported in his search for investors by hww Unternehmensberater GmbH. 


Zett Optics was founded in 1928 and developed into a leading company for lighting solutions in medical and laboratory technology. Zett Hellux was founded in 1891 and Hellux in 1895 as “Hannoversche Licht Anstalt”, which initially specialised in banker and desk lamps and then street lamps. In 2012, Zett Optics from Braunschweig acquired the Hellux Group. In Laatzen and in the Czech town of Budweis, the company produces its own developments for architectural lighting and property-related lighting. 


The parent company Zett Optics was acquired in 2008 by an investment fund that wanted to expand a group of companies in the lighting industry. For around two years now, the Group has been burdened by high restructuring costs. It finally had to file for insolvency in February due to overindebtedness. Insolvency administrator Prof. Dr. Martini continues Zett Optics. 


Party to the proceedings

LEONHARDT RATTUNDE, Berlin:

Insolvency administrator: Prof. Dr. Torsten Martini

Lawyer Jesko Stark (Insolvency Law)

Lawyer Toralf Maatz (Employment Law)

Commercial lawyer Christoph Heusler (Business Administration)


GÖRG

Consulting Zett-Gruppe

Lawyer Sascha Feies

Lawyer Dr. Carsten Müller-Seils

Lawyer Dr. Axel Dahms


hww

Management Consultant Investor

Investor Process

Burkhard Jung, Managing Director

Nicolas Knop, Assistant Manager

Klaus Wassermann, Senior Manager

Consultant


Further information:

Prof. Dr. Torsten Martini, Insolvency Administrator and Lawyer

LEONHARDT RATTUNDE,

Kurfürstendamm 26 A, 10719 Berlin,

Tel. 030-8859030, Fax: 030-885903100,

berlin_at_leonhardt-rattunde.de

www.leonhardt-rattunde.de


Dr. Jochen Mignat, Dr. Mignat PR,

Am Hexenpfad 11, 63450 Hanau,

Tel. 06181-50791-22, Fax 06181-50791-11,pr_at_mignat.de

LEONHARDT RATTUNDE is a leading law firm for insolvency law in Germany. In addition to insolvency administration, the firm also offers reorganisation consulting, litigation, contract law and notarial services in Berlin, Erfurt, Kiel and Cologne. The firm

Toralf Maatz

Lawyer / Specialist lawyer in employment law / Notary registered in Berlin / Insolvency administrator / Managing partner

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