MIFA Mitteldeutsche removes managing director from management board

By Kali Hays

New York, Oct. 9 – MIFA Mitteldeutsche Fahrradwerke AG has removed managing director Stefan Weniger from its board of management effective immediately, according to a Thursday news release.

MIFA’s chief executive officer Thomas Mayer is now the sole member of the management board.

The company said this development will not affect its preliminary insolvency administration “for the time being,” according to the release.

As previously reported, MIFA’s management board applied for self-administered insolvency with the District Court of Halle (Saale) on Sept. 29.

The application came after a basic agreement reached in August with OPM Global BV, a subsidiary of Hero Cycles Ltd. and One Square Advisory Services GmbH to financially restructure MIFA could not be implemented as pledged.

MIFA is a bicycle manufacturer based in Sangerhausen, Germany.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.