Logistics sourcing and recruiting firm adi Consult GmbH is excessively indebted. Since May, court bailiffs have filed a number of seizing orders against adi’s bank account as result of outstanding invoices the Frankfurt-based personnel placement company has failed to remunerate.
The creditor’s receivables total almost €57,000. Among them are the tax office of Darmstadt, a city near Frankfurt, the administrative district of Gross-Gerau and even the German Federal Office
adi Consult GmbH’s relevant bank accounts “had a zero balance at the time the attachments were filed,” Gross-Gerau’s savings bank told the creditors, adding that all claims have been preregistered.
According to information obtained by CargoForwarder Global, adi Germany is in financial trouble since 2012 latest, backed by the data of the balance sheet that shows liabilities of €277.000. A year later, things had become worse with the deficit growing to almost €340,000, while receivables stood at €208,000 only, documented in the annual report filed 30 April 2015.
Where does adi Consult go from here?
Considering the ongoing indebtedness, it looks bitter for the sourcing company, leaving little if any room for adi Consult Germany to keep its head above the water. Filing for bankruptcy seems to be inevitable and legally compulsory, if the management doesn’t want to risk investigations of delaying insolvency proceedings. If not done in time, the judiciary will initiate criminal proceedings against the owner or managers responsible, which might become costly or, if found guilty, lead to the inclusion of the people responsible in the criminal record.
The 2000 incepted recruiting specialist is anything but a no-name company in the national and international sourcing landscape. Within only 16 years, the company, built and run by former DB Schenker executives, has developed a global network covering almost every corner of the world. Since then, many air freight and logistics players have utilized adi Consult’s services to recruit the right candidate for filling a vacant job.
adi’s global network will not be affected
Up to this point it remains in the dark what has caused adi Germany’s massive financial woes. Even Helmut Berchtold, co-founder, president & CEO of adi North America was surprised on the extend of the problem when confronted with the facts by CargoForwarder Global. He quickly assured that each national representation of adi Consult has its own independent operational management, being responsible for sales and financial results. Therefore, it would be bitter if adi Germany should file for bankruptcy, but it would not endanger the existence of the company’s global network.