The company MWS Westfalen Werke NDS GmbH has to file for bankruptcy again. This means that the wave of bankruptcies in Germany will continue unabated in 2024.
After the bankruptcy of a giant in the construction industry, a global market leader in mechanical engineering, and a well-known German grocery chain, the furniture manufacturer Hulsta is bankrupt, as is a popular amusement park. The decisive reasons for the bankruptcy are the significant decline in sales, as the company reports. The company is faced with a challenging market situation in the furniture sector. The weak consumer climate and the slowdown in the construction of new apartments are having a negative impact on the industry. In particular, the 'other furniture' segment, which includes the living, dining, and bedroom furniture, recorded a massive drop in sales in the last quarter. The group filed for insolvency with the Münster district court. The bankruptcy is expected to be final by the end of the year.