Baker Tilly partner Dr. Alexander Fridgen appointed as provisional insolvency administrator of CamperBoys GmbH
- 10/23/2024
- Reading time 4 Minutes
Munich, October 23, 2024 – CamperBoys GmbH’s camper rental company Off has filed an application for the opening of insolvency proceedings with the Munich Local Court. Baker Tilly partner and attorney-at-law Dr. Alexander Fridgen has been appointed as provisional insolvency administrator. The company’s declared goal is to continue business operations together with a new investor. Initial negotiations are already underway. Salary payments for employees are secured until the end of 2024. Affected customers will be informed of the next steps by the debtor in the coming days.
“As part of the preliminary insolvency proceedings, we will first get an idea of CamperBoys GmbH’ situation and take the necessary concrete steps,” says Dr. Alexander Fridgen: ”Despite the difficult current situation, we are working intensively together in order to find ways to continue business operations in the long term and successfully drive forward the company’s restructuring with a new investor.”
Focus on digitalization and customer satisfaction
CamperBoys GmbH operates ten rental stations across Germany and has a fleet of around 1,200 camping vehicles. The entire service, from rental to travel planning, is highly digitalized thanks to specifically developed software and geared towards maximum customer satisfaction. Due to changing market conditions, the company has been working on restructuring its business model since 2022 – away from its own fleet and towards an asset-light model with a rental fleet of external system partners.
Market changes and financial challenges
The company's original business model has come under severe pressure due to increased purchase prices, high financing costs and falling residual values on the market. Not only the management, but also existing investors believed in a larger financing round with external investors until the end and provided bridge financing. Unfortunately, the financing round failed a few days ago, which made filing for insolvency inevitable.
“We very much regret that we have now had to take the step into insolvency, but we remain optimistic that we can succeed in making our business model fit for the future through strategic partnerships and restructuring,” says Paul Pizzinini, Managing Director and founder of CamperBoys GmbH. “Our aim is to be able to offer our customers the proven CamperBoys quality also in the future, to retain as many of the jobs we have created as possible in the long term and to gradually expand our market position.”
The provisional insolvency administrator Dr. Alexander Fridgen is available as a contact person for potential investors.
Affected customers will be informed by CamperBoys GmbH about further steps in the coming days.
Contact CamperBoys
CamperBoys GmbH
Werinherstraße 2
81541 Munich
About Off and CamperBoys
CamperBoys GmbH’s camper rental company Off was born in 2016 not only from the desire for freedom of the two founders Paul Pizzinini & Andreas Mall, but also from the desire to make the unforgettable travel moments of van-life accessible to more people. With a fleet of 1,200 vehicles at ten locations in Germany, Off is one of the top-rated campervan rental companies, offering high-quality vans and motorhomes with excellent service and outstanding quality for anyone who wants to feel the freedom.
Off is now a travel company that goes beyond campervan rental and enables individual route planning with the Off Guide. With its own innovative rental software, Off ensures simple and efficient rental and customer service processes.
About Baker Tilly
With 43,000 employees in 141 countries, Baker Tilly provides a broad range of innovative and individual consulting services in the areas of Audit & Advisory, Tax, Legal and Consulting worldwide. Globally, our accountants, lawyers, tax advisors and management consultants develop solutions which are precisely tailored to the individual needs of our clients and implement them with the highest standards of quality and efficiency. Based on our entrepreneurial consulting philosophy, the engagement partners form interdisciplinary teams consisting of specialists best suited for each particular project both on an international and national level. In Germany, Baker Tilly employs 1,500 specialists in ten different locations and is one of the largest partner-managed consulting firms in the country. The Baker Tilly Competence Centers and Industry Teams combine know-how and expertise from various disciplines and industries in cross-sector teams, focusing on the specific requirements of clients and their markets.
Press contact
Christopher Arnold
Marketing & Communications
T: +49 (0) 69 366002 326
christopher.arnold@bakertilly.de
