A Swiss furniture manufacturer, a traditional company with 130 years of history, must close its production site in Menznau and undergo a restructuring. Founded in 1894 in Wolhusen, the company has faced increasing financial difficulties over the past two years, ultimately leading to insolvency proceedings. A creditors' meeting is scheduled for October 3rd, where creditors will decide on the proposed settlement.
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The former owner and CEO of the company, sitzplatz.ch, Urs Steinemann, sold the shares of sitzplatz.ch to Jack Bros AG. This company already operates other furniture manufacturers and carpentry businesses and will relocate sitzplatz.ch's production to the Aargau canton. While the production site in Menznau will be closed, the sales and administrative functions will remain there.
The move and restructuring are driven by the challenging market conditions and competition from international corporations, which have severely impacted Swiss furniture manufacturers.
Source: www.luzernerzeitung.ch