GÖRG partners Dr Jan Janßen and Dr Mike Westkamp, specialist lawyers for insolvency and restructuring law, are acting as provisional insolvency administrators for the restructuring process of the Urban Group. They were appointed to this role by the Hagen Local Court in a decision dated 3/4 April 2025. Part of the provisional insolvency proceedings includes the group's external sales company, Urban Industries GmbH, based in Hagen. Business operations at all companies will continue unchanged.
Dr Mike Westkamp, responsible for four of the five companies affected within the Urban Group, and Dr Jan Janßen, responsible for the Hagen-based production company, began work immediately after their appointment and held initial talks with the management. Christian Schulze, also from GÖRG, is supporting the restructuring process that has been initiated. Business operations are continuing without restriction. All 80 employees remain in place. Their wages and salaries are secured for three months by insolvency payments from the German companies.
The Urban Group most recently achieved annual sales of around 8 million euros. The company was formed from Schlosserei & Metallbau Volker Urban, founded in 1981, and specialises in the processing of high-strength steel, armoured steel and complex sheet metal components. Its end customers mainly include companies from the defence industry.
The reasons for filing for insolvency included extensive investments in modern production processes and the expansion of new capacities at the production site in the Netherlands. Delayed contract awards led to underutilisation, which resulted in profitability and liquidity problems.
‘The Urban Group has significantly expanded its production capacities in recent years, but has not yet been able to achieve full capacity utilisation. However, given the current economic boom in the defence sector, we believe that the prospects for a restructuring are good,’ explained Dr Jan Janßen and Dr Mike Westkamp.
The aim of the investor process now underway, which is being supported by GO & Company as M&A advisor, is to sell essential assets or shares and thus ensure the sustainable continuation of business operations. Those responsible see the insolvency proceedings as an opportunity to realign the company in the long term and make it fit for the future.
GÖRG Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB
Dr Jan Janßen (Provisional Insolvency Administrator, Partner, Insolvency Administration, Hagen)
Dr Mike Westkamp (Provisional Insolvency Administrator, Partner, Insolvency Administration, Hagen)
Christian Schulze (Associated Partner, Hagen)
