Insolvency administrator says all construction sites are “put to the test”

Primus construction site in Bayreuth

The care center should be ready by mid-2022. A construction site can still be seen in the screenshot from January 11, 2023.

(Photo: Screenshot)

Berlin, Dusseldorf The Primus Concept Group built nursing homes and residential properties for three decades. Now the umbrella holding company in Munich is bankrupt. On Friday, the district court appointed Hubert Ampferl as the provisional insolvency administrator. “So far, the holding company has been financed mainly from allocations,” Ampferl said in an initial diagnosis of the Handelsblatt. After the group’s earning power decreased, the business model could no longer be implemented.

According to crowdfunding websites, Primus Concept has realized projects for more than 110 million euros in the past and has a volume of 240 million euros in the pipeline. This is difficult to check due to the fragmented group structure. The Bavarian entrepreneur Werner Schilcher from Markt Indersdorf is behind the group of more than 80 companies. He set up the complicated structure and, as a member of the holding company’s board of directors, also filed for insolvency.

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