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Insolvency shock for Hansegarnelen AG: What will become of shrimp farming?
Hansegarnelen AG in Glückstadt reports bankruptcy, caused by a financial gap. Future of the locations uncertain, discussions with investors are ongoing.
Insolvency shock for Hansegarnelen AG: What will become of shrimp farming?
Shock for the aquaculture industry: Hansegarnelen AG, a major player in shrimp farming, has filed for bankruptcy. On June 27, 2025, the Itzehoe District Court ordered provisional insolvency administration when the company was faced with an unexpected financing gap of 1.5 million euros. This arose from the withdrawal of a shareholder's financial commitment. The provisional insolvency administrator Berend Böhme from Bremen was entrusted with the task of securing business operations and initiating restructuring measures. Despite the current difficulties, those responsible emphasize that the company was close to breaking even, and CEO Rupert Baur is confident that Hansegarnelen could break even in a few weeks, as merkur.de reports.
Hansegarnelen AG operates Europe's largest recirculation system for shrimp farming in Glückstadt, with an annual production of around 85 tons. This innovative system, for which the company has invested millions of euros since 2021, ensures that seafood is grown in closed systems without the use of antibiotics. The production method is almost climate-neutral and is classified as sustainable. Despite the bankruptcy, operations will continue unchanged at the other locations in Grevesmühlen and Gronau, report shz.de and merkur.de.
The path to renovation
The wages and salaries of the 22 employees are secured by the insolvency money for the next few months. Discussions with potential investors are already underway to secure the future of the company. Legal restructuring proceedings will prove necessary to secure business operations in the long term. In addition, the management expects public information about the status of the proceedings and the next steps on July 3, 2023, as mentioned in shz.de.
The insolvency process is not isolated. The management consultancy Falkensteg is observing an increase in major insolvencies of around 30 percent from 2023 to 2024 and is forecasting a further increase of 20 to 25 percent for 2025. Companies from the automotive supply industry, construction and mechanical engineering are particularly affected. These trends raise questions about the future framework for aquaculture and the economy in general destatis.de.
How will Hansegarnelen AG weather this storm? Future developments in the Glückstadt area remain to be seen, but hopes for renovation are high. With the help of innovation, commitment and possibly new investors, shrimp farming could soon flourish again and sustainably consolidate its pioneering position in climate-friendly aquaculture.