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Insolvency shock: Traditional company Schardt from Bavaria has to close!
A traditional company from Bavaria, Schardt GmbH & Co. KG, files for bankruptcy after more than 80 years. The reasons are falling demand and high costs.
Insolvency shock: Traditional company Schardt from Bavaria has to close!
The bankruptcy wave in Germany does not tear off! A traditional family company from Bavaria, Schartt GmbH & Co. KG, has to throw the towel after more than 80 years of company history. On October 31, 2024, preliminary insolvency administration was ordered to secure the company's assets. The Nuremberg lawyer Dr. Harald Schwartz takes on the role of the provisional insolvency administrator. The message hits the furniture industry like a lightning strike!
Scabt GmbH, which was founded in 1936 as a basket manufacturer, has developed into one of the leading providers of children's furniture in Germany over the decades. But the times are hard: falling demand and massive competition are increasing to the company. According to insider information, market development in the furniture industry is to be assessed as "challenging". The economic framework, coupled with high energy costs, are driving more and more companies into bankruptcy.
Alarming insolvency numbers in Germany
The situation is alarming! In October 2024, 1,530 bankruptcies were registered - the highest value in 20 years! Steffen Müller from the Leibniz Institute for Economic Research explains that the combination of a continuing economic weakness and increased increased costs for wages and energy forces companies to kneel. Schardt GmbH is only one of many victims of this worrying development.
How the employees and business operations continue remains uncertain. However, the company website emphasizes that the availability of goods at the production locations in Germany should be maintained. But the question remains: can this traditional company survive the storm?