Paper producer Crown Van Gelder is bankrupt. The company confirms this to NU.nl. The company has been located in Velsen-Noord in North Holland since its foundation in September 1896.
Crown Van Gelder celebrated the 125th anniversary party postponed due to corona last September. The bankruptcy was pronounced on Monday before the Noord-Holland court.
Director Miklas Donkers writes in a letter to the approximately 250 employees that there is not enough money in cash, although the company still achieved a positive result in 2022. He attributes this to “increased costs, especially for energy and raw materials, and an abrupt drop in the number of orders”.
The director also speaks of uncertainty about market developments in the near future. “The paper machines will remain stationary until further notice.”
The trustees are investigating whether there is still a future for Crown Van Gelder. “We wish you a lot of strength in the uncertain times ahead,” Donkers writes on behalf of the board of directors.
