Another furniture manufacturer has fallen into financial distress. According to reports on Moebelkultur.de, the company's CEO has cited weak order levels, high costs, sustained consumer reluctance to purchase, and a downturn in the construction sector as contributing factors to significant declines in revenue. On Monday, this news site already reported that Ronald Schmitt was also in trouble.
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Approximately 100 employees have been affected, although production is expected to continue normally for the time being.
The company, Schröder Wohnmöbel in Delbrück, has subsequently filed for insolvency at the Paderborn District Court. The German family business has been delivering quality furniture in the traditional way since 1864.
Source: www.moebelkultur.de