Insolvency risk! Reutlinger Maschinenbauer Manz meets it hard!

Insolvency risk! Reutlinger Maschinenbauer Manz meets it hard!

Reutlingen, Deutschland - The crisis in mechanical engineering takes on dramatic proportions! The company Manz, based in Reutlingen, recently stated that it wants to apply for bankruptcy. On December 18, the board said that the company can no longer procure financial resources due to insolvency and over -indebtedness. This alarming location was triggered by the refusal of lenders to provide further funds. According to information from Merkur , almost 1,500 employees are affected by the impending bankruptcy.

background and causes of bankruptcy

The difficulties of Manz are not new. In 2023, the company generated sales of around 250 million euros, but had to look into the red numbers for several years. In the past few weeks, the board has had numerous talks with potential investors to secure new financing, which have now been unsuccessful. Despite this necessary steps, the company plans to continue to negotiate with possible investors in order to find a financial way out of the crisis, such as FAZ reported.

at a time when the German economy is faced with a remarkable increase in bankruptcies, the Creditreform Economic Output agency expects around 22,400 corporate insolvencies by the end of the year. This marks an alarming increase of almost 25 percent compared to the previous year and has been the highest value since 2015. Especially industries such as mechanical engineering and suppliers, which are largely influenced by the automotive crisis, are under immense pressure.