Overview
- The company told workers and the press on Monday that it cannot be saved and will cease operations, with about 240 remaining employees to receive short‑term, operationally driven dismissal notices.
- Management said it lacks the liquidity to keep production running or to continue negotiations with prospective investors without reducing payments to creditors, so the planned investor takeover will not proceed.
- Earlier restructuring this year included a sale of the Karamalz brand to Veltins and an insolvency filing in self‑administration at the end of October 2025, but those moves did not stop the cash shortfall.
- The collapse also cancels a planned transfergesellschaft that about 30 staff had already agreed to join, and the NGG union says roughly 100 jobs might have been saved under earlier proposals and is demanding rapid talks on a social plan.
- Company filings and statements say remaining orders will be wound down in an orderly way and all assets, including the Mannheim site, will be sold as part of the insolvency process, leaving an uncertain timetable for final redundancies and creditor payouts.