As reported by Euwid, four recycling companies of the Fischer Group filed for insolvency last week. Lawyer Dirk Pehl of Schultze & Braun is said to have been appointed provisional insolvency administrator of Fischer GmbH, Fischer Rohstoffe GmbH, Fischer Cyclepor Deutschland GmbH and Recyplast GmbH. According to Pehl, an investor is to be sought to take over the companies, which employ around 160 people across Germany. Significant declines in turnover, especially in the automotive sector, are cited as the cause of the economic difficulties. Also, because of the Corona pandemic, target markets such as Great Britain, Asia or Turkey could no longer be served as before. Finally, higher raw material prices could not have been passed on to customers, the insolvency administrator said about the reasons for the current insolvency, according to Euwid.

Sources:

• euwid-recycling.de (8.2.2021)
• Photo: @ Fischer Group