After more than 200 years of company history, a German company has to file for bankruptcy. Now 180 employees face an uncertain future.
Druckhaus Kaufmann GmbH from Lahr filed for insolvency at the Offenburg District Court on July 9, 2024. Despite intensive efforts to maintain business operations, insolvency could not be averted, as the company announced in a press release. (via: “Ortenau City Gazette“)
There are several main reasons for the economic misery: the corona pandemic, the Russian war of aggression against Ukraine and the ongoing economic weakness. The printing industry was hit particularly hard. High energy costs, rising paper prices and falling print orders ultimately led to the insolvency of many companies in this sector.
The Kaufmann printing house looks back on a history spanning over 200 years Kaufmann
Traditional company Druckhaus Kaufmann files for bankruptcy
The Offenburg District Court has appointed attorney Dr. Thorsten Schleich from the law firm Schleich & Partner mbB as the provisional insolvency administrator. The business operations of the Kaufmann printing house will continue in full for the time being, and the payment of employees’ wages and salaries is secured by the insolvency benefit in the provisional insolvency proceedings.
The Kaufmann printing house, a sixth-generation family business founded in 1816, has a 208-year history. It is one of the most important employers in Lahr and has received numerous awards for its outstanding performance. With around 180 employees and customers from over 30 industries, the company has been successful on the market for decades.
Digitalisation puts pressure on the printing industry – fewer and fewer magazines and catalogues
The entire printing industry has been experiencing massive consolidation processes for years due to advancing digitalization and the associated decline in print volumes. The corona pandemic also led to declines in sales and production. The Russian war of aggression against Ukraine in spring 2022 then triggered further price increases on the energy and procurement markets.
The lack of economic recovery since 2023 is further exacerbating the situation, and the high inflation rate is leading to cautious consumer behavior. The resulting decline in print orders, especially for magazines and catalogs, represents an existential challenge for many companies in the industry.
Changes have been made since the beginning of 2024
Since the beginning of 2024, Druckhaus Kaufmann has taken several steps to secure its business operations in the long term. These included extensive cost reductions and the introduction of short-time work from March 2024. At the same time, talks were held with a strategic investor, whose takeover offer was, however, withdrawn at the beginning of July 2024 due to the poor economic outlook.
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