photo: BUDAMAR WEST/Illustrative photo
A creditors’ meeting in Gera has approved the restructuring plan of rail freight operator BUDAMAR WEST GmbH. The decision brings the insolvency proceedings to a formal close after several months.
At a creditors’ meeting held at the district court in Gera (Thuringia) on 25 February 2026, the insolvency (restructuring) plan of BUDAMAR WEST GmbH was approved. After several weeks, the plan was also confirmed by the court. The plan was supported by a majority of both secured and unsecured creditors, including employees who also participated in the meeting as creditors. The insolvency proceedings were thus successfully concluded on the basis of the approved restructuring plan.
From Financial Distress to Stabilisation
BUDAMAR WEST GmbH, which focuses on rail freight transport, filed for insolvency in June 2025. The company encountered financial difficulties primarily as a result of losing one of its key customers, which had accounted for a significant share of its revenue. The departure of this partner led to a substantial decline in turnover and subsequent insolvency.
Following the opening of insolvency proceedings, the company continued operations under the management of insolvency administrator Rolf Rombach. During the process, it was possible to stabilise operational structures, maintain key business relationships and secure new customers and partners.
Seven Months to Restructuring
The entire restructuring process was completed within seven months. After the plan was approved, insolvency administrator Rolf Rombach stated:
"Recent months have shown that BUDAMAR WEST GmbH has a sustainable business model and committed employees. By maintaining operations during the proceedings and through constructive cooperation of all parties involved, it was possible to create a viable solution. The confirmed insolvency plan now provides the basis for the company’s return to independent and successful operations."
Preserving the Company and Its Licences
Unlike liquidation or asset sale, the adopted restructuring plan allows BUDAMAR WEST GmbH to continue as an independent legal entity. The insolvency plan essentially represents an agreement between the company and its creditors, regulating debt relief and the future direction of the business without leading to its dissolution.
A key factor is the preservation of railway licences and operating permits, which are tied directly to the legal entity. Obtaining them again for a new company would be administratively, financially and time-consuming.
A New Opportunity for Growth
According to the insolvency administrator, the approval of the plan has led to the reorganisation and stabilisation of the company’s economic foundations. BUDAMAR WEST GmbH now has a real opportunity to re-establish itself as a profitable business and strengthen its position in the German rail freight market.