Heristo Holding takes over insolvent Möve Bikes - business to continue at Mühlhausen location - all jobs to be retained

Mühlhausen - Möve Bikes develops and builds pedelecs and conventional bicycles in the premium segment as a Made-in-Germany manufacturer in Mühlhausen, Thuringia, and exclusively offers its own highly developed drive concept. Thanks to a sophisticated patented mechanism, the pedal crank drive is considerably more efficient.

The Mühlhausen Local Court ordered provisional insolvency administration over the assets of Möve Bikes GmbH on 05.02.2021 and opened insolvency proceedings on 01.04.2021. Marcello Di Stefano, a lawyer specialising in insolvency law from DiLigens Rechtsanwälte & Insolvenzverwalter, was appointed as insolvency administrator. Under his leadership, business operations have been successfully continued without any restrictions since then.

Heristo has now taken over the business operations, including the traditional Möve brand, with a group company and will seamlessly continue and further expand it. All employees will remain on board, including the managing director and company founder Tobias Spröte. Heristo Holding is a family-run group of companies that has been active in the meat processing, delicatessen, pet food and wholesale and foreign trade sectors in the German and international markets. With a wide range of services, the group is one of the leading companies in the European food industry.

Already during the preliminary insolvency proceedings, restructuring expert Di Stefano had initiated a structured investor process on a national and international level. In this process, he was supported by RSP Restrukturierungspartner GmbH & Co. KG under the direction of Dr. Robert Tobias, Dr. Fabian Meißner and Ann-Katrin Ruch. In the end, three interested parties remained, but Heristo won the race.

"With Heristo Holding we have found a very strong and highly professional investor, with whom Möve Bikes is excellently positioned for the future. What makes me particularly happy is that both the production site in Mühlhausen and the jobs will be preserved. The customers can also breathe a sigh of relief, because the investor will take over all orders and deliver all ordered bikes. I am convinced that the company will develop very positively in the future in an extremely dynamic market environment and that we will hear a lot more about Möve Bikes," says Di Stefano, a specialist lawyer for insolvency law.