Reports are emerging that Rabe is once again in financial trouble. The German plough and cultivator maker was purchased by the Grégoire Besson Group in 2011 after a succession of brief ownerships but has continued to make tillage machinery and in the German market also sold rebranded Sulky fertiliser spreaders.
By applying for bankruptcy of the Bad Essen based business the GB Group will secure the wages for the 200 or so employees at Rabe and allow already ordered and future machines to be delivered. The reason being given for the bankruptcy is that an investment process at group level took longer than expected.
“We seek to protect the bankruptcy in self-administration, as part of the Grégoire Besson Group to complete an investor process for the whole group successfully,” said Simon Schlüchter, member of the board of directors of Grégoire Besson GmbH.
“Our stated goal is to support the sale of the entire group in an optimal way through our application for insolvency. We see it as the best option for us to get as many jobs as possible and at the same time to achieve the best possible creditors’ satisfaction,” explained Mr Schlüchter. “Though the bankruptcy is self-administration, we have now gained time to maintain our business and as a relevant part of the Grégoire Besson Group to ensure the continued existence of the Bad Essen location.”
