THE assets of German intermodal operator Helrom are to be liquidated, the company announced in a statement on June 1. “Following an assessment of the financial situation, there are currently no viable prospects for the company’s continued operation,” the statement says.
The company’s operational activities had already been suspended prior to the filing of an insolvency application, when the local court in Frankfurt am Main, Germany, ordered provisional insolvency administration for Helrom GmbH on May 26.
Thomas Rittmeister has been appointed as provisional insolvency administrator to safeguard the interests of creditors and to implement the next steps of the proceedings.
Helrom says that the company’s employees have been informed of the situation.
Having completed restructuring under a court-approved insolvency plan in January, Helrom had hoped to concentrate its network of services carrying lorry semi-trailers on three core corridors, running from Düsseldorf to Györ in Hungary, Trento in Italy and Katowice in Poland. At the same time, the company was pursuing discussions with stakeholders and potential investors.
However, the court’s decision to liquidate the company's assets, which principally consist of 234 proprietary swing-tray wagons built by Greenbrier, mean that a rescue package for Helrom appears unlikely.
A feature detailing Helrom’s recent history is published in the June issue of IRJ, p42.
