Höhn applies for bankruptcy

Ulm-based packaging specialist Höhn filed a petition for bankruptcy under self-administration at the District Court of Ulm. As the company announced yesterday, the business continues to run in full. The 206 employees were already informed in the context of a staff meeting, their salaries were secured by the insolvency money. As provisional administrator ordered the court Arndt Geiwitz. In addition, the management cooperates with the law firm Pluta.

Reasons for the application are on the one hand sales declines in recent months, on the other hand, but also necessary restructuring in order to prepare the company for the future. The company has already developed a restructuring concept that is viable from the point of view of the management and is to be implemented further in the coming weeks.

We will implement the restructuring consistently and work cost-disciplined, explain the managing directors Ingbert Schmitz and Sebastian Haug. In order to prepare for the future, it is also considered to bring a strategic partner into the company. Most recently, the company based in the Danube valley has performed well in a difficult market environment. Recently, the sales of the manufacturer of displays and packaging amounted to 25 million euros.