LRP file insolvency & explain current situation

End of last week certain news sites have reported that German company LRP Electronic is facing financial difficulties. This had led to several rumours over the weekend regarding the current situation of the company and now forced LRP founder, Jürgen Lautenbach to clarify the situation. It is understood that LRP will try and continue with all business activities while also looking for a possible investor.

During the institution of the preliminary insolvency proceedings it is intended to continue the business activities of the LRP electronic GmbH in order to examine the possibilities of restructuring.

Concerning the rumours and false information floating around I would like to clarify as follows:

LRP electronic GmbH filed for insolvency at the Local Court of Stuttgart, Germany. By decision of the Local Court of May 18th, 2017, lawyer Dr. Philipp Grub, Reinsburgstraße 27, 70178 Stuttgart, Germany, was appointed Preliminary Insolvency Administrator.

During the institution of the preliminary insolvency proceedings it is intended to continue the business activities of the LRP electronic GmbH in order to examine the possibilities of restructuring. Furthermore, an M&A process was initiated to find an investor for the company.

Jürgen E. Lautenbach