The court in Zutphen has declared Aquinos Bedding Netherlands B.V. of Kesteren in a state of moratorium. This has temporarily averted the bankruptcy earlier requested by trade union FNV, but the company's financial situation remains extremely worrying.
The company, which specialises in producing mattresses and foams for the furniture industry, has been facing serious financial problems for months. Production has been at a complete standstill since the beginning of May. The uncertainty surrounding salaries, holiday pay and employment for the 140 or so employees led to a bankruptcy petition by the FNV, which stood up for the interests of the staff, at the end of June.
With the declaration of the moratorium, an administrator has been appointed who will work with the management to try to reorganise the company or realise a relaunch. The exact name of the administrator has not been made public at this time. During the moratorium, the company is not allowed to make payments or enter into contracts without the administrator's permission, in an attempt to treat creditors fairly and allow time for a possible resolution.
© Bas Geurts
Background
Aquinos Bedding Netherlands is the former Dutch branch of Recticel, and has been part of the Portuguese Aquinos Group for several years. The company was a stable employer in the Betuwe region for many years, but since the corona pandemic, the economic tide has turned drastically. According to FNV board member Yolanda Reus, the parent company is now "leaving the Kesteren site to its fate".
The moratorium means that bankruptcy has not yet been declared, and therefore employees cannot yet claim continued wage payment through the UWV for the time being. "Only when bankruptcy is actually declared can the UWV take over the payment of salaries," Reus informed earlier. Until then, uncertainty remains for employees.
More information:
Aquinos Bedding Netherlands
www.aquinosgroup.com
