You are here: / Fintyre

Posts

Fintyre insolvency: Investors look at companies

According to Sebastian Brunner, spokesman for the provisional insolvency administrator handling the Fintyre Group case, a number of parties have already expressed interest in acquiring individual companies belonging to Fintyre’s insolvent German operations. These potential investors have already inspected the companies in question or will do so in the near future. “We hope to already have binding offers on the table in April and then be able to enter into negotiations,” said Brunner.

Read more

Related news:

  1. Fintyre insolvency: New month, no pay
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. End of the line for German tyre wholesaler RS Exclusiv
  4. Buyers found for 2 more Fintyre businesses in Germany
/by

Some Fintyre companies operating again in Germany

,

The insolvency administrator handling the case of 16 Fintyre Group companies in Germany reports further progress. Miguel Grosser from law and insolvency administration firm JAFFÉ states that 31 TyreXpert, Secura and Duro retail outlets are selling tyres again and providing a full range of customer services. Other centres, including those belonging to Reiff Reifen und Autotechnik, can operate on a “restricted” basis but not sell new products.

Read more

Related news:

  1. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Fintyre insolvency: New month, no pay
  4. Search for Fintyre investor begins as employees receive insolvency benefits
/by

Fintyre insolvency: New month, no pay

,
Reiff

Hundreds of people employed by Fintyre Group subsidiaries in Germany didn’t receive their wages or salaries for January, and it looks like this unhappy situation occurred again a month later. Disgruntled employees have contacted our German affiliate to confirm the lightness of their bank accounts, but apparently, they’ll soon become weightier.

Read more

Related news:

  1. Some Fintyre companies operating again in Germany
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. End of the line for German tyre wholesaler RS Exclusiv
  4. Buyers found for 2 more Fintyre businesses in Germany
/by

Fintyre’s insolvent businesses: All unpaid employees now receiving benefits

,

All employees of the Fintyre Group’s 16 subsidiary companies in Germany who didn’t receive their wages or salaries for January have now received insolvency benefits – which Fintyre will ultimately pay for, one way or another.

Read more

Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
/by

Search for Fintyre investor begins as employees receive insolvency benefits

,

It’s still early days for Fintyre’s insolvency proceedings in Germany, but some progress has been made. The insolvency administrator appointed to the preliminary insolvency proceedings for 16 Fintyre Group companies reports the appointment of a committee of creditors. This committee will work with a “leading international transaction consultant” to find a new investor for Fintyre. At the same time, some of the Fintyre employees who weren’t paid salaries or wages for January have now received insolvency benefit payments.

Read more

Related news:

  1. Fintyre’s insolvent businesses: All unpaid employees now receiving benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
/by

Fintyre Group employee pay ‘coming’, restarting business operations a priority

, , ,

All 16 companies in the German Fintyre Group have now applied to open insolvency proceedings. But what lies ahead for the 1300-plus employees awaiting wages and salaries, the affected companies’ creditors, and the companies themselves? Sebastian Brunner, spokesman for Miguel Grosser, the provisional insolvency administrator at law firm Jaffé, told our sister website in Germany, Reifenpresse.de, that approximately 200 Reifen Krieg employees will receive their outstanding January wages and salaries in the coming days. Business at the group’s wholesalers and retailers is largely at a standstill, though the office of the provisional insolvency administrator has some more positive news on this too.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  4. End of the line for German tyre wholesaler RS Exclusiv
/by

Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”

,

They are resigned, angry and desperate. But above all, they’re disappointed. Disappointed that they weren’t informed about the bankruptcy by their employer Fintyre, but by the media. Our sister publication in Germany, Neue Reifenzeitung, has spoken with staff at TyreXpert outlets in the north of the country to gain an insight into the mood of the workforce.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Search for Fintyre investor begins as employees receive insolvency benefits
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. End of the line for German tyre wholesaler RS Exclusiv
/by

German Fintyre Group almost completely in bankruptcy

,
German Fintyre Group bankruptcy

Just a few days after bankruptcy proceedings were initiated by Reifen Krieg GmbH, several other companies under the umbrella of the German Fintyre Group are now bankrupt, including almost all of the companies relevant to the operating business.

Read more

Related news:

  1. Search for Fintyre investor begins as employees receive insolvency benefits
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  4. Buyers found for 2 more Fintyre businesses in Germany
/by

Fintyre Group’s Reifen Krieg files for bankruptcy

,

German tyre distributor Reifen Krieg GmbH, part of the Fintyre Group of companies (Fintyre) active in tyre distribution and retail in Germany and Italy, filed bankruptcy proceedings on the evening of 6 February in Frankfurt, with lawyer Miguel Grosser appointed trustee. Tyrepress reported on Monday that the group’s chief executive officer, Claudio Passerini – who is also the CEO of the group’s umbrella organisation in Germany, Fintyre Group GmbH – had written to Fintyre’s German employees to inform them of restructuring necessary for the short-term to ensure its sustainable continuation in the wake of missed salary payments in January.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. Insolvency proceedings begin for 7 Fintyre Group companies in Germany
  3. German Fintyre Group almost completely in bankruptcy
  4. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
/by

Restructuring announced as Fintyre Group misses January wages

,

The Fintyre Group has grown considerably since Bain Capital first acquired Italian tyre wholesaler Fintyre early in 2017, but what does the future hold? Tyrepress.com understands that the company has told its employees in Germany that a restructuring of the Fintyre Group is taking place, and that this measure is now being felt in a very tangible way.

Read more

Related news:

  1. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  2. European FinTyre Distribution buys Reifen Krieg
  3. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  4. EfTD rebrands as Fintyre Group
/by

Fintyre and Hankook win 800,000-euro Ferrovie del Sud-Est fleet tender

Fintyre and Hankook win fleet deal

Fintyre has won the tender for the supply of tyres for public transport vehicles, launched by Ferrovie del Sud-Est with an auction base of over 800,000 euros.

Read more

Related news:

  1. Vipal: VRT3 tread offers 8% better mileage
  2. Hankook: ‘We are not affected’ by truck tyre tariffs
  3. Guy Heywood named Hankook Tire Europe truck tyre marketing director
  4. BH Sens introducing universal truck TPMS in Bologna
/by

EfTD rebrands as Fintyre Group

Wholesaler European Fintyre Distribution Limited (EfTD) has changed its name. As of yesterday, the firm is known as Fintyre Group.

Read more

Related news:

  1. Restructuring announced as Fintyre Group misses January wages
  2. Anger amongst Fintyre Group’s workforce in Germany: “They’re dealing with people, not numbers”
  3. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  4. Fintyre Group’s Reifen Krieg files for bankruptcy
/by

Fintyre now sole Italy distributor for Triangle tyres

,

Wholesaler Fintyre has gained exclusive Italian market distribution of the entire Triangle PCR portfolio, including the recently-presented overhauled Triangle tyre range for Europe. Triangle Tyre chose the European Fintyre Distribution (EfTD) member company thanks to its “extensive distribution coverage, its competence that distinguishes the company and its widespread presence on the Italian territory.”

Read more

Related news:

  1. ‘Only efficiency will save tyre distributors’ – Top 5 European tyre wholesaler Fintyre
  2. Bain Capital acquires Fintyre
  3. Tyre wholesale: acquisition gives Italy’s Fintyre national coverage
  4. EfTD rebrands as Fintyre Group
/by

Fintyre wins Milan public transport tender

,

Italian distributor of replacement tyres, Fintyre has been awarded the tender for the supply of tyres for public transport vehicles, launched by ATM (Azienda Trasporti Milanesi), with an auction base of 2.632 million euro.

Read more

Related news:

  1. Compass Royston coach hire firm endorses Giti winter tyre after alpine excursion
  2. Bridgestone secures FirstGroup global fleet partnership
  3. Michelin wins five-year trentbarton contract
  4. McGill’s Buses signs 5-year tyre management deal with Michelin solutions
/by

FinTyre completes Rs Exclusivreifengrosshandel and Tyrexpert Reifen + Autoservice acquisition

,

Following the announcement made on 28 December 2018, on 10 May 2019, European FinTyre Distribution (EfTD) announced that it has completed the acquisition of 100 per cent of German tyre firms Rs ExclusivReifengrosshandel GmbH and Tyrexpert Reifen+Autoservice GmbH.

Read more

Related news:

  1. Fintyre to open London head office
  2. Fintyre Group employee pay ‘coming’, restarting business operations a priority
  3. Mobivia Groupe to acquire ATU
  4. European FinTyre Distribution buys Reifen Krieg
/by

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.