Overview

• The packaging manufacturer has applied for an insolvency proceeding in self-administration, allowing management to steer restructuring.
• Treofan cited falling demand and significant losses since the 2023/24 financial year as the cause of its financial distress.
• Restructuring adviser Lucas Flöther said the process provides a financial breathing space with planning certainty through the end of October.
• Employee pay is covered for three months via insolvency money from the Federal Employment Agency, affecting about 500 staff at the site.
• Earlier this week, the IGBCE union reported unpaid August wages and a temporary power shutdown at the Neunkirchen plant.