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Insolvency in Karben: König + Neurath is fighting for 830 jobs!
König + Neurath from Karben files for insolvency on its own initiative and plans restructuring to secure jobs and production.
Insolvency in Karben: König + Neurath is fighting for 830 jobs!
König + Neurath, a traditional office furniture manufacturer from Karben, filed for bankruptcy on its own initiative at the Frankfurt district court on Monday. The company is faced with serious challenges in the office furniture market, which are primarily characterized by a noticeable decline in new orders since the summer. As the FNP reports, this is a turning point for the family business founded in 1925, which is headquartered in Karben and employs around 830 people.
The workforce has already been informed about the situation. Mayor Guido Rahn confirms that König + Neurath is the largest employer in Karben and makes it clear how important the company is to the local economy, as it provides around 10% of the city's jobs. The board has developed a self-managed restructuring plan in order to secure jobs and production in the long term. A restructuring process was initiated with experts at the end of October in order to set the course for positive development.
Renovation plans in view
The restructuring is intended not only to secure employee salaries for the next three months, but also to secure financing for the coming months. The board is supported by Dr. Jens Schmidt and Marion Rodine from Runkel Rechtsanwälte. Typically, the self-management process allows the board to remain in office and actively work to resolve problems, rather than allowing external administrators to take control.
The situation in the office furniture market has deteriorated significantly in the last two years. This is reflected in the increasing challenges that companies like König + Neurath face. The decline in new orders has reached alarming proportions and is forcing decision-makers in the company to act quickly. Loud HK Magazine It is now crucial to use the available resources effectively in order to successfully implement the restructuring strategy.
The coming months will be crucial for König + Neurath. It remains to be hoped that the measures implemented can stabilize the company and that the more than 800 employees will soon have optimistic prospects of a secure future again.