Heinz Kettler, the leading German manufacturer of home fitness equipment and other products, filed for self-managed insolvency in mid-July after the company's foundation declined to endorse a sale of the company to an investment firm, Altera Capital. According to German press reports, the foundation disagrees with certain clauses in the sale contract, already penciled in May, that concern the rights it holds to the Kettler brand name in the U.K. and the U.S. The foundation, which was set up after the tragic death last year of Karin Kettler, also owns the company's manufacturing operations in Germany and Poland. Placing it on a three-week vacation shutdown, Kettler's management has told the staff of more than 700 people that the issue should be resolved in the autumn.

Topics