Following the formal commencement of insolvency proceedings today, DyStar Textilfarben GmbH will continue full operations. “We will maintain business activities, the global supply of dyes, additives and services for the textile and leather processing industries is currently continued,“ the insolvency administrator appointed by the Frankfurt District Court, Miguel Grosser from the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter, confirmed today.

In addition to the current 70 permanent employees of DyStar Textilfarben GmbH in Frankfurt, a further 160 DyStar staff can thus be kept on. The continuation of business activities will also mean that over 2000 staff at still solvent foreign subsidiaries will for the time being keep their jobs.

“It allows us to offer potential investors a fully operative enterprise with efficient operations as a key argument in ongoing talks,“ Grosser underlined. “We continue to be in negotiations with strategic investors.“ The talks are expected to carry on through December.

With the commencement of insolvency proceedings on 1 December 2009, DyStar Textilfarben GmbH will now have to generate the wages and salaries of its employees on its own again.