Last week, we reported a major German furniture group was facing payment challenges. These economic pressures reflect the broader trend of reduced demand within the German furniture market, which has left many companies struggling to maintain financial stability. Now, Euwid Holz and Möbel reports the group in question, Vivonio, has initiated insolvency proceedings for several of its key entities, including bedroom furniture manufacturer Staud, office furniture producer Leuwico, as well as Vivonio Holding GmbH and Vivonio Furniture GmbH.
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In recent updates, both brands informed suppliers of their precarious situation, while employees and works councils have been briefed on the steps being taken to manage these financial difficulties. However, management cautions that the resolution process will take time, and further updates will be provided as clarity emerges.
Despite the financial woes of Staud and Leuwico, other Vivonio brands remain unaffected. Production facilities for fm Büromöbel in Lower Saxony and Austria, as well as KA Interiør in Denmark, continue to operate independently and successfully. Both brands maintain full production and delivery capabilities, reinforcing their status as stable contributors to the Vivonio network.
Source: www.euwid-holz.de