German shipyards in crisis: Bankruptcy and broken promises
Two German shipyards, acquired by Lars Windhorst's Tennor Group, are facing bankruptcy. Despite promises of reorganization, employees have not received wages for weeks. The Prime Minister of Schleswig-Holstein is calling for a change of ownership.
The owner of the shipyards in Flensburg and Rendsburg is Tennor Group, led by Lars Windhorst. The takeover of the facilities occurred in 2020 and 2021. According to "Deutsche Welle," Windhorst, despite bankruptcy proceedings, plans to reorganize and save the shipyards. However, he is facing criminal charges, including delaying the initiation of bankruptcy proceedings.
About 500 shipyard employees have been waiting for their payments for weeks, which have been delayed repeatedly in recent months. The Prime Minister of Schleswig-Holstein, Daniel Günther, accused Windhorst of breaking promises. Together with the Minister of Economy, Claus Ruhe Madsen, he called on the owner to step down to enable the shipyards to be saved.
Lack of cooperation and withdrawn funding
In the summer, the German Ministry of Economy withdrew funding for the project to build LNG storage ships, citing a lack of cooperation from Windhorst.
In October, a court in Würzburg announced the temporary insolvency of the subsidiary FSG-Nobiskrug Holding. The future of Wima, which produces yacht interior elements, also remains uncertain.
