09.01.2025

Falcon files for bankruptcy protection

Danish spider lift manufacturer Falcon Lifts filed for protection from its creditors in December, having struggled to service its debt load.

The paperwork was filed on Monday December 16th, but it has taken us until now to get a statement and full details from the administrator. It seems that those involved with the company have signed some form of non-disclosure agreement.
The company which began as Falck Schmidt has gone through a number of owners since it was acquired from the founding family by VT Holding - at the time the parent company of Denka Lift – in 2005. That became Worldlift, which was then acquired by concrete company Skako to become Skako Lift in 2010. This was followed by a Management Buy Out in 2011 to become TCA Lift. The name was changed to Falcon in 2018. More recently the company signed a supply deal with Chinese manufacturer Sinoboom, we noticed a fair few Falcon units at the Sinoboom plant in Changsha at the end of November and indications are that payment terms on this deal may have played a part in the latest developments as China’s economy slowed. Although if the company’s underlying debt load had been lower it should have managed any such slow down.

Lawyer Michael Vestergaard has been appointed to manage the administration process, with the aim to restructure the company’s debts and restart production and trading.

He can be contacted by e-mail: [email protected], or by post to:
Borch Advokater
Advokat Michael Vestergaard
Østre Havnevej 2, 4. sal
5700 Svendborg
Denmark

We will of course update this items as the situation develops.