A renowned Polish furniture manufacturer specializing in wooden bent chairs, has announced plans for restructuring due to financial struggles.
Photo: Fameg.
The company, Fameg, based in Radomsko, has submitted an application for court approval to initiate this process. Fameg reported a net loss of PLN 2.3 million and is burdened by increasing debt. As part of the restructuring, up to 80 employees may face layoffs.
The company's management aims to resolve its financial challenges by negotiating terms with creditors, maintaining production, and continuing to operate without disrupting its current business. Despite the layoffs, Fameg plans to repay its debts and seek new customers to stabilize its financial position.
Founded in 1881, Fameg has a long tradition in furniture manufacturing, tracing its roots to the Bracia Thonet factory. With around 600 employees, Fameg remains one of Europe's largest producers of wooden bent chairs. In 2023, the company generated nearly PLN 100 million in revenue, with 55% of sales coming from exports.
Source: www.bankier.pl