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Insolvency administrator accepts of the offer by the employee-led New Tetenal

NEW TETENAL – The employee-led initiative has made an offer to purchase the collection of recipes, the brand and the production assets of its former employer.

The insolvency administrator, Dr. Sven-Holger Undritz, was delighted to accept the offer of the founding team in the offices of White & Case in Hamburg today. The insolvency administrator’s and the founding team’s attorneys have set the roadmap for the next steps as a result of today’s decision. Since the announcement of the liquidation of Tetenal Europe GmbH in January and the subsequent launch of the employee-led initiative helmed by Stefania Grimme, Carsten Gehring and Burkhardt Mueller to rescue the analogue photo chemistry pioneer, the initiative has received overwhelming support from former employees, analog photography enthusiasts from around the world and large commercial customers of TETENAL Europe Gmbh.

“These calls of solidarity and pledges of loyalty further motivate us as we move forward with a revitalized NEW TETENAL” says Stefania Grimme

Industry partners from all around the globe, ranging all the way from California to Tokyo are signaling their support to establish NEW TETENAL as an innovative and reliable partner in Germany addressing the global photochemistry community. Several commercial discussions have started.

At this point, the formalities of the business activities of NEW TETENAL are being established. Following the previously announced end of production by the insolvent TETENAL, the operations of the new company are scheduled to begin from the 1 April 2019.

“However from the beginning of March, it will be possible for existing customers and other commercial partners of NEW TETENAL to place orders which are a prerequisite for starting the production by the new start-up company on the 1stof April,” add Carsten Gehring and Burkhardt Mueller

“What does NEW TETENAL stand for?” is a frequently asked question posed to the founding team. “We respect the heritage and the responsibility for 172 years of photo history that we inherit. Together with the global photo community and commercial partners from the analogue photo industry, we will relaunch proven products to ensure reliable sustainable supply for film and photo studios, while developing new business models, products and services” notes Burkhardt Mueller.

“The supply and support to the international subsidiaries of our previous employer will be continue under NEW TETENAL without interruption,” adds Norbert Koester-Beestermoeller.

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