Niall Olver, CEO of Grob Aerospace, has released a statement announcing that the company will file for insolvency by 31 October.
FC understands that negotiations with potential investors are ongoing but time is now running out for an agreement to be finalised. “We have unfortunately not been able to secure a new investor within the timeframe allowed by German law,” said Olver in the statement.
Most employees at the company’s plant in Tussenhausen-Mattsies, Germany will cease working for Grob Aerospace from 3 November. A core team will remain to keep business activities running on a minimum scale. The management teams of Grob Aerospace GmbH (Germany) and Grob Aerospace AG (Switzerland) will continue discussions with potential investors. According to Olver: “We hope that a new investor will get on board and that we will then be in a position to re-hire most of the employees.”