A German furniture manufacturer has filed for insolvency for its five affiliated companies at the Wittlich District Court on 25 February 2025. The court has appointed lawyer Tobias Wahl from Anchor Rechtsanwälte as the provisional insolvency administrator. Discussions with management and business partners have begun, and employees have been informed of the ongoing proceedings.
Photo: Dreamstime.
The Conen Group, which specialises in furniture for educational institutions and office spaces, has struggled with revenue declines in recent years. Key factors include a downturn in business with major US clients, delays in the implementation of the "Digital Pact 2.0" funding programme, and increased competition from Chinese manufacturers. Financial strain from a 2019 acquisition, along with rising interest rates and debt, further impacted operations. While restructuring efforts began in late 2024, an anticipated investment deal collapsed in mid-February when a financial backer withdrew its commitment.
The group operates under Conen Holding GmbH and consists of three divisions: Möbelwerke Niesky, which focuses on kindergarten furniture and equipment; Conen Systems, which produces interactive furniture for IT and global educational sectors; and Conen Produkte, which serves the corporate and conference market. It has facilities in Morbach-Gonzerath, Niesky, and Borchen, employing approximately 225 staff and generating an annual revenue of around €64 million.
Source: www.moebelmarkt.de