Employees are waiting for salary: Lars Windhorst wants to save luxury yacht builder Nobiskrug

Ex-Hertha investor Windhorst calms the employees of the shipbuilder Nobiskrug.

Employees are waiting for salary: Lars Windhorst wants to save luxury yacht builder Nobiskrug

Ex-Hertha investor Windhorst calms the employees of the shipbuilder Nobiskrug. They are waiting for their salary and worry about the future of the builder of luxury yachts. In order to obtain security, Windhorst wants to organize new capital and unbundle the structures of his Tennor Group.

Lars Windhorst has hardly put the painful Hertha episode behind him when other problems are pressing for a solution: His luxury yacht builder Nobiskrug still lacks solid financing. Money is so tight that the employees have long since noticed the problem and are already fearing the next bankruptcy. This week they're waiting for their November wages, and Christmas bonuses too. In an interview with the "Frankfurter Allgemeine Zeitung" (FAZ), Lars Windhorst made a commitment to the workforce: "The employees don't have to worry about their November salary. Tennor regularly transfers the necessary sum at the end of the month."

The scandal-ridden investor Lars Windhorst also has a plan for reorganizing the financing of his shipyards, which he says will be sustainable. So far, his companies have apparently been the big paymasters for Nobiskrug and for the Flensburger Schiffbau-Gesellschaft, which cooperates with Nobiskrug. Overall, he and his companies have already invested 200 million euros in the ongoing operations of his shipyards, Windhorst told the FAZ.

With his plan, he wants to ensure that the shipyards are so solidly positioned that customers can hedge their risk with guarantees. "In shipbuilding, it is common for ship customers to have bank guarantees or state or state guarantees. This limits the risk of completion for customers and they can make down payments to the shipyard depending on the progress of construction," explains Windhorst in an interview with the FAZ the principle that applies in the industry. But it doesn't apply to him - because the balance sheets he can show are not solid enough.

That is now to be changed, says Windhorst, announcing changes in the nested and opaque structure of his group: "The new parent company of FSG Nobiskrug will be a Swiss holding company with high equity and no liabilities. This company also belongs to Tennor Group", announced Windhorst in an interview with the FAZ: "In this context I will carry out a capital increase of 50 million euros at FSG Nobiskrug Holding GmbH." The calculus: If a solid balance sheet can be presented in this way, he could get guarantees for ten times his own contribution, i.e. for half a billion euros. Indeed, that would allow for the construction of several super luxury yachts. So far, however, the changes are only announcements.