A German office manufacturer has agreed a restructuring plan to secure its future, as part of ongoing self-administered insolvency proceedings.
© König + Neurath
The plan for König + Neurath, backed by secured financing, aims to stabilise operations, strengthen competitiveness and support a return to normal business activity. It is based on contributions from shareholders, financial partners and employees.
The founding family will retain ownership and provide investment, signalling commitment to the company's long-term prospects. Financing partners will supply liquidity through secured loan agreements to support ongoing operations.
The restructuring also includes workforce reductions, with around 700 jobs expected to be preserved. Affected employees will transition to a support programme offering training and career guidance. Remaining staff will contribute through adjustments to pay and benefits.
The company said operations will continue without disruption, maintaining service for customers and suppliers.
CEO Patrick Heinen said the agreement represents a joint effort to create a "viable solution", adding that while the measures are challenging, they provide the foundation for a stable restart and future growth.
Source: www.moebelfertigung.com
