The project company for the first construction phase of the construction project has slipped into bankruptcy.
(Photo: GerchGroup)
Dusseldorf The first project company in the insolvent Gerchgroup went bankrupt. On Thursday, the Düsseldorf District Court opened insolvency proceedings for “Gerch Nürnberg The Q 1 GmbH”, a construction phase of the former Quelle site in Nuremberg, according to a public announcement.
“Despite intensive negotiations with the buyer and financing partner, an institutional investor based in Bavaria, Gerch’s search for an amicable solution for the further continuation and completion of the first construction phase outside of insolvency failed,” the company announced on Thursday afternoon.
The Bavarian Supply Chamber (BVK) had secured the 2020 section. A request from the Handelsblatt to the BVK initially remained unanswered. After the failed negotiations, Gerch said they had to file for insolvency immediately. In addition, the construction work was stopped.
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