More and more companies are going bankrupt in Germany
Germany’s oldest companies cannot withstand the rising cost of doing business. Companies in the food, construction and automotive industries are going bankrupt.
Kappus, a German soap manufacturer that has been in business for 170 years, is Germany’s oldest company. The company has declared insolvency bacause of rapidly rising costs of materials, employment and supply bottlenecks. The company has also struggled with high energy bills.
Wolff, on the other hand, will declare bankruptcy after 125 years of operation. The company has been hit by rising prices for wood, plastic and steel, as well as problems with the supply of construction materials and staff shortages.
In addition, a bankruptcy petition has been filed by the candy and dragees manufacturer Bodeta, which has been in business for 130 years. The company has been battered by rising energy and raw material prices. Sugar has risen by 100 percent and glucose by 200 percent.
Borgers, which produced textile components for cars for 156 years, also declared bankruptcy.
