2024-04-28 15:07:23
The parent company has already filed for bankruptcy, now it’s the daughter’s turn: The Heubach Group is having major difficulties in Germany.
The German branch of the chemical company Heubach Colorants Germany GmbH has apparently filed for bankruptcy. As “Wirtschaftswoche” reported on Saturday, the restructuring negotiations failed and an insolvency administrator took over.
The company produces pigments for use in the paint, plastics, printing inks and building materials industries and employs around 900 people in Frankfurt am Main, according to “Wirtschaftswoche”. The Heubach Group is one of the world’s leading pigment manufacturers with a total of 19 locations.
The parent company has already filed for bankruptcy
According to “Wirtschaftswoche”, the Braunschweig district court has appointed Andreas Kleinschmidt from the law firm White&Case as the provisional insolvency administrator. He now wanted to get an overview and “do everything possible to enable business operations to continue,” he told the newspaper. According to “Wirtschaftswoche”, other German companies in the group could file for bankruptcy.
The parent company in Germany, Heubach GmbH, had already filed for bankruptcy on Monday. Around 270 jobs in the Goslar district in Lower Saxony are at risk here. This is a reaction to the threat of excessive indebtedness, the company said. Jeannette Chiarlitti, head of the southern Lower Saxony district at the mining, chemicals and energy industrial union, said, according to NDR, that the company had been in turmoil for months. The employees were shocked.