A leading manufacturer of furniture and support systems for educational institutions and office spaces has commenced an investor process following financial challenges. Business operations across all locations continue as usual.
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At the end of February 2025, Conen Holding GmbH and its associated companies filed for insolvency with the Wittlich District Court. The provisional insolvency administrator, Tobias Wahl, alongside Anchor attorneys, ensured uninterrupted operations at the four locations. Wahl has now initiated a structured investor process for the companies.
Wahl emphasised the importance of maintaining production and supplier agreements to preserve company value during the investor search. Employee salaries for the approximately 225 staff members are secured through insolvency benefits from the Federal Employment Agency.
Founded in 1960, the Conen Group operates as a medium-sized manufacturing company based in Morbach-Gonzerath. It has developed from a small packaging firm to an internationally oriented group, comprising three operating companies and distributing products globally. The group recently reported annual sales of around EUR 64 million.
The company has faced economic challenges due to a decline in US sales, impacted by expiring subsidies and market saturation. Additionally, delays in the continuation of Germany's "Digital Pact 2.0" reduced orders. Increased competition from a Chinese manufacturer and price pressures on displays have also affected the business. Initial restructuring measures were implemented at the end of 2024, but subsequent investor negotiations were unsuccessful, leading to the insolvency filing.
The structured investor process is being managed by M&A advisory firm Falkensteg, aiming to secure a new investor for the group.
Source: www.moebelmarkt.de