yesterday at 12:29
,Germany
The German furniture and office equipment manufacturer König + Neurath, headquartered in Karben (Hesse), has been forced to declare bankruptcy. The traditional company has been supplying furniture and office solutions for 100 years and currently employs around 830 people. The company announced on its website that it had filed for self-administration with the Frankfurt am Main district court. No external receiver will be appointed, and the company will continue to operate independently under the supervision of so-called trustees.
The German furniture industry has been in a severe crisis since 2024. According to industry reports, new acquisitions are sometimes postponed for years and new orders are almost non-existent. König + Neurath was hit hard by these events, and the company not only suffered a drop in revenue but also found itself in a liquidity crisis. The aim of the self-management procedure is to "adapt to the changed market conditions in the office furniture sector and sustainably improve profitability."
Despite the financial challenges, production, service and delivery are continuing as usual. The priority is to secure wages for the next three months and to create long-term financing. The company's board members Steffen Schwerd and Rainer Raschke said: "We will systematically simplify and strengthen our business model and then develop it strategically. Our high production depth at the Karben plant, our innovative strength and the loyalty of our employees are decisive competitive advantages for this."
The company plans to optimize structures and processes. It is not yet clear whether this will affect the number of jobs. An inquiry from BILD has not yet been answered. The coming months will show how König + Neurath implements the restructuring and whether the traditional company can cope with the current market conditions.
