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"N is more competitive": one of the five largest manufacturers of bakery products in Germany gives up. Nearly 1,000 employees lose their jobs.
Würselen / Essen – In search of a major player in food production: the group of insolvent Kronenbrot bakeries will be closed on 31 July. The company's approximately 1,000 employees are losing their jobs in the factories in Würselen, Cologne and Witten, the interim insolvency administrator Biner Bähr said on Wednesday.
Founded in 1865, the company has been struggling for a long time with significant problems. Two weeks ago, he had to declare bankruptcy due to impending insolvency and over indebtedness. After that, the company was initially pursued. However, all attempts by the liquidator to offer the company a chance of survival have failed.
Großbäckerei Kronenbrot: "July 31 is no longer competitive for many years"
"Crown bread has not been competitive for many years, production facilities are very outdated and no longer meet the requirements of modern production processes," Bähr said. Continuation of operations is no longer possible under the previous conditions. All attempts to find a potential buyer for the bakery group had failed.
Kronenbrot was one of the five largest manufacturers of bakery products in Germany, according to the insolvency administrator. The company produced bread and bakery products for food retailers, discount stores, large consumers and chain of outlet chains. It has recently generated an annual turnover of approximately 120 million euros.
Recently, especially failed fashion chains and other economic problems have been in the news. Thus, the fashion brand Tom Tailor should be sold in China. The AWG fashion chain has filed for bankruptcy. TV maker Loewe also ceased operations very quickly.
dpa / fn
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