German shipbuilding group FSG-Nobiskrug has received offers from potential investors from industry-related companies after it applied for insolvency in December 2024.
Hendrik Gittermann, one of two assigned provisional insolvency administrators, confirmed that discussions with interested parties have reached an advanced stage.
However, Gittermann ruled out the complete and immediate resumption of production at the group's Rendsburg and Flensburg sites by the beginning of February even as the group comes under new management.
Gittermann explained that additional maintenance work and TÜV inspections need to be undertaken before work at the sites can restart.
The insolvency proceedings against FSG-Nobiskrug Holding, Flensburger Schiffbau-Gesellschaft, Nobiskrug Yachts, and FSG Nobiskrug Design are scheduled to formally begin at the Flensburg and Neumünster district courts on February 1, 2025.
Insolvency pre-financing had been initiated to secure short-term wage and salary payments for nearly 500 employees of the group, which is concentrated in Schleswig-Holstein, up to January of next year. Many of these 500 employees have already been laid off, according to German local media.
The insolvency administrators are also considering the possibility of collaborating with the federal and state governments to provide interim financing to support construction costs associated with a number of vessels yet to be completed at the Flensburg and Rendsburg facilities.