A German furniture manufacturer has managed to stabilise its operations while navigating insolvency proceedings. The company applied for standard insolvency at the Osnabrück District Court on 20 November 2024, with official proceedings expected to begin in early February. Production at its facility will continue following a restructuring process.
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Loddenkemper, the firm in question, has implemented a "comprehensive package of measures" to sustain operations. According to Die Glocke, these include cost reductions in materials and rent, productivity enhancements, and revised agreements with licensing and association partners.
As part of the restructuring, the company will cut 45 of its 161 jobs, mainly through pension arrangements and the expiration of fixed-term contracts. The firm has stated that it will continue operating "until further notice."
Source: www.moebelfertigung.com