LRP Files For Insolvency
In what has become a far too often occurrence in our hobby over the last few years, LRP has released a statement to the media stating that they have Filed For Insolvency. Insolvency is defined as “The state of being insolvent; inability to pay one’s debts.”, something that we are very sorry to hear about. The BigSquidRC Bash Crew hopes that LRP makes some changes and comes back stronger than ever. Here is the full press release.
“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”