MCA-Agentur (Liechtenstein) Expands Its Business Activities with the Acquisition of NOVA <> and TOP SOFA, as well as the Assets and Model Rights for Collection E

A significant part of the insolvent Schieder Group's upholstered
furniture business has secured a bright future. MCA-Agentur (MCA)
based in Bendern, Liechtenstein has acquired all shares of the Polish
upholstery specialist companies NOVA Sp.z.o.o. and TOP SOFA
Oborniki Sp.z.o.o. Both companies are major manufacturers within the
European upholstered furniture industry and employ about 500 staff.
MCA has confirmed its intention to continue running both companies
with their current headcount.

In a further step, MCA is to take over the assets and acquire all
the model rights for Collection E, Lubbecke. Collection E will also be
integrated into the restructuring strategy.

Further success for Schieder Group's insolvency administrator

The present solution is the third restructuring success in the
Schieder Group's insolvency process and is a result of the meticulous
preparatory work and effective negotiations conducted by Claudia
Jansen, insolvency administrator at White & Case, Frankfurt. A major
objective was to ensure that valuable and well-established structures
were transferred to MCA without disruption. "MCA is a company with an
excellent industry track record. We are excited to have won over MCA
to continue a substantial part of the upholstery business of the
Schieder Group", says Claudia Jansen. "In particular, we are pleased
to see that a large majority of employees in both Poland and Germany
are securing interesting prospects with their new employer", adds
Jansen.

Strategic fit

Peter Gschwend, CEO and MCA shareholder is convinced that the
present solution is very attractive for all stakeholders and in
particular for all clients. "In geographic terms, Poland fits well
into our European strategy", he said. "Thanks to our well organised
logistics and a highly motivated sales team, MCA will offer its sofas
in all European markets at identical prices", adds Gschwend. With
1,600 employees and an annual output of one million sofas, the
Liechtenstein based MCA is one of Europe's leading suppliers.

For the full text of the release, please open the attachment.

http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5507549