Jnger Audio Plans Reorganization With Insolvency Proceedings

J nger Audio Plans Reorganization With Insolvency Proceedings posted: 20/07/2018

Ongoing search for investors will be continued and successfully completed

Business activities to continue without restrictions and will be strategically reoriented

30 employees guaranteed through to the end of August using the insolvency payment

Attorney Stefan Ludwig from Schultze & Braun appointed as provisional insolvency administrator

J nger Audio GmbH, a globally known manufacturer of professional audio technology, plans to reorganize the company as part of its insolvency proceedings. The company submitted a corresponding application with the Charlottenburg District Court, and the court appointed Attorney Stefan Ludwig from Schultze & Braun as the provisional insolvency administrator.

The goal of this process is to accelerate the company restructuring that began last year and to complete it successfully. We are working to make the business model of J nger Audio more future-oriented, explains Managing Director Martin Schlockwerder. In the future, along with our hardware, we also want to focus more on software-based solutions for audio technology in order to account for the major changes in the market.

The necessary internal reorganization efforts are already in full swing, but for financial reasons they could not be completed without declaring insolvency. Ultimately, we were lacking the liquidity to bring the new concept to fruition, reports Schlockwerder.

J nger Audio thus wants to attract an investor that can equip the company with the financial resources needed to support its reorientation. Schlockwerder adds, With fresh funds, we can present our world-renowned development work in the form of innovative products, offering them as platform-independent software in the relevant future markets.

J nger Audio launched an Mergers and Aquisitions process even before the start of the provisional insolvency proceedings in order to target specific investors. We are able to build on the extensive preliminary work that has already been done, reports provisional insolvency administrator Stefan Ludwig. That's very good, because we can continue the discussions with potential investors without losing too much time. Our goal is to successfully complete the search in a timely manner.

Reorientation or no, business operations are continuing at J nger Audio without any restrictions. All of the current orders will be fulfilled as promised, says Ludwig. The employees' jobs are safe through to the end of August thanks to the insolvency payment.

Established in Berlin in 1990, J nger Audio specializes in the development, manufacture and distribution of high-quality digital audio algorithms and audio processors. Its customers include the world's largest broadcasters, streaming service providers and recording studios. In addition to its own product portfolio, J nger Audio also works with licensees and OEM partners in the areas of pro audio, automotive and consumer electronics. With approximately 30 employees, the company generates around 3.5 million euros of sales a year.

About Schultze & Braun

Schultze & Braun is a leading service provider that offers insolvency administration and consulting for companies in crisis. With about 700 employees at more than 40 locations in Germany and throughout Europe, Schultze & Braun is one of the few providers that combines legal and business expertise under one roof. Schultze & Braun helps regional, national and international companies with all of their restructuring and reorganization issues; it guides them through crises and insolvency, or helps them avoid insolvency. In addition, Schultze & Braun advises and represents clients on issues involving traditional corporate, legal, and tax consulting.

About J nger Audio

Established in Berlin in 1990, J nger Audio specializes in the development, design and manufacture of high-quality digital audio dynamics solutions. J nger Audio has developed a unique range of audio algorithms that are focused to meet the precise needs of the professional audio markets such as Broadcast, MI, Automotive and OEM. With over 15.000 audio-channel on air, J nger Audio's customers include the world's top radio and TV broadcasters,IPTV providers, music recording studios and audio post production facilities.All J nger Audio products are easy to operate and are developed and manufactured in-house, ensuring that the highest standards are maintained throughout.

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