Posts tagged as mifa

  • mifa_home_types_3

    Monday, September 28th 2015

    Mifa wants to expand, but puts staff on short-time work

    by Markus Huber

    Heinrich von Nathusius, the new owner of large German bicycle manufacturer Mifa since the beginning of this year, is facing fresh problems with the company. From Oct. 1 until the end of 2015, the entrepreneur intends to put 350 of the altogether 550 workers on short-time work. During this period, they will work only 30 […]

  • Monday, December 15th 2014

    Local businessman is Mifa’s new owner

    by Markus Huber

    The 600-odd employers in the main factory of Mifa, the troubled German bike manufacturer, and their representatives expressed relief at the news, which broke on Friday, that the bankrupt company has a new owner. It is Heinrich von Nathusius, a local businessman, who is experienced in rescuing troubled companies in comparable industries. Von Nathusius made his money basically […]

  • Thursday, December 11th 2014

    Unnamed entrepreneur comes to Mifa’s rescue

    by Markus Huber

    No week could be complete without news from Mitteldeutsche Fahrradwerke (Mifa), the large, but bankrupt German producer of bicycles. The new story is that a so-far unnamed local businessman from Mifa’s home state of Saxony-Anhalt has basically agreed to buy the company. Mitteldeutsche Zeitung, the German regional newspaper, reports that the state government stepped in to […]

  • mifa_home_types_all

    Tuesday, December 2nd 2014

    Mifa enters formal bankruptcy procedures; CEO resigns

    by Markus Huber

    Mitteldeutsche Fahrradwerke (Mifa), the beleaguered German bicycle manufacturer, has entered formal bankruptcy procedures. A court in Halle, Saxony-Anhalt, ordered starting procedures in appliance of the German bankruptcy code because of the high amount of debts and inability to meet financial liabilities. Back in September, Mifa sought protection under related legislation and asked the court for its […]

  • Thursday, October 16th 2014

    Investor looks to rescue Mifa

    by Markus Huber

    There is new hope for the bankrupt firm Mifa, the German bicycle manufacturer, which had to file for receivership at the end of September. The investment company Deutsche Balaton AG has agreed to buy 1,575,000 shares from an unnamed shareholder, after it has submitted a recovery plan to receivers. This represents almost 16 percent of the […]

  • Thursday, October 9th 2014

    Court halts Mifa’s self-administrated bankruptcy

    by Markus Huber

    With immediate effect, a German court put an end to Mifa’s, the country’s largest bicycle manufacturer, plans to manage its bankruptcy in self-administration. Mifa filed for receivership at the end of September when it failed to secure investment from Hero Cycles, the big Indian bike maker. The court halted the management’s plan to administrate the […]

  • Monday, September 29th 2014

    Mifa files for bankruptcy

    by Markus Huber

    Mifa, Germany’s largest bicycle factory, did not lose much time after reporting earlier today that its net loss for the first half of the financial year exceeded half its nominal share capital. Shortly afterwards, the company announced that it had filed for self-administrated insolvency at a court in the city of Halle, Saxony-Anhalt, Germany. The […]

  • mifa_fabrik

    Monday, September 29th 2014

    Mifa: The nightmare continues

    by Markus Huber

    In a preliminary statement, Mifa, the big German bicycle manufacturer, has announced that its net loss for the first half of 2014 is as much as half the company’s nominal share capital. The executive board has, therefore, called for an extraordinary shareholder meeting to be held as soon as possible. No money from India? The bike maker’s difficult […]

  • mifa_3

    Tuesday, August 26th 2014

    Legal investigations against Mifa’s former top executive

    by Markus Huber

    Just a few days after Mifa’s rescue by Hero Cycles, the large Indian bicycle manufacturer, the former chief executive of the German bike maker is subject to legal investigations. Peter Wicht, who was one of the big shareholders of Mifa with 24 percent until Hero agreed to step in last Friday, resigned in April – for […]

  • mifa_fabrik

    Monday, August 25th 2014

    Hero Cycles rides to Mifa’s rescue at the last minute

    by Markus Huber

    Major Indian bicycle manufacturer Hero Cycles saved beleaguered German counterpart Mifa, almost literally at the last minute. Hero agreed to take over a substantial stake just before Mifa had to repay interest on a large loan, for which it did not have the cash. Technically speaking, Mifa’s creditors agreed on a substantial reduction of capital from former big […]