Insolvency shock in mechanical engineering: Renzmann is fighting for survival!

Insolvency shock in mechanical engineering: Renzmann is fighting for survival!

Monzingen, Deutschland - In Germany, the bankruptcy wave rolls unstoppable! The D.W. Renzmann Apparatbau GmbH, a traditional mechanical engineer from Monzingen, filed for bankruptcy on October 24 at the Bad Kreuznach district court. After 50 years in business, bankruptcy hits the company hard, which is known worldwide for its industrial washing machines and distilling systems. The current economic crisis, coupled with declines of sales after Corona pandemic, has brought the company into a precarious situation.

Renzmann employs around 100 people in Germany, whose salaries are secured by the bankruptcy money. Managing Director Dr. Dominik Zimmermann remains optimistic and emphasizes the excellent technological basis and the qualified workforce of the company. "We have many orders and offer comprehensive services that our customers appreciate," he explains. Insolvency administrator Jens Lieser also sees light at the end of the tunnel: "Renzmann has well -filled order books and is financed for the entire year 2025," says Lieser.

bankruptcies at record high

The bankruptcy of Renzmann is not an isolated case! According to the Leibniz Institute for Economic Research Halle (IWH), the number of corporate bankruptcies in Germany has reached a record high. The third quarter of 2024 has recorded the highest number of bankruptcy since 2010. Experts warn of a storm of bankruptcies in the second half of the year, while the management consultancy Falkensteg points to the worrying trends in bankruptcies. "We expect a further increase in the number of cases," predicts restructuring expert Jonas Eckhardt.