Great interest after bankruptcy
Manufacturer of Weck glasses is looking for investors
07/10/2023 06:58 am
The future of the Weck preserving jars is unclear after the manufacturer’s bankruptcy application. Now the search for an investor begins. The interest in the company seems great: Shortly after the bankruptcy became known, several potential financiers are said to have reported.
Three weeks after filing for bankruptcy, the manufacturer of the well-known Weck glasses began looking for investors. “This week, a short profile with information about the company will be sent. The aim is to draw the attention of potential financiers to the investment opportunity,” said preliminary Weck insolvency administrator Thilo Braun. In total, more than 100 potential investors are to be contacted.
According to the information, the interest was already great after the bankruptcy became known. “Several interested parties have contacted us independently. They will now also be written to,” said Braun. The expert for insolvency law from the law firm Nehrig, Braun und Sozien expects a lively response. “And then it’s sorted out. In the end, we have at best one or two handfuls of serious prospects. And then we’ll see where it fits best.”
Such a process usually takes four to five months, said Braun. During this time, operations should continue as usual – and be optimized in some areas, such as the price. “We have the impression that there is still room for maneuver in terms of price, both for preserving jars and for packaging glass,” said Braun. Because the demand is there. “Many competitors probably sell their glass at a higher price. So why don’t we?”
Sales of the well-known preserving jars have increased as a result of the reporting on the insolvency. “Either because awareness of the brand has been raised again. Or because some people think that Weck won’t be around for much longer and they want to stock up now,” said Braun. This gave the employees additional motivation.
Traditional companies have been around for more than 123 years
Weck filed for bankruptcy on June 19. The reasons given included lower demand recently and high energy prices. Specifically, it is about the parent company J. Weck GmbH & Co. KG based in the city of Wehr and the subsidiary Weck Glaswerk GmbH. The group’s administration, sales and publishing business are based in southern Baden. 115 people work there.
The Bonn-based glass factory employs 260 people. The traditional company has existed for more than 123 years and is now managed by the fourth generation. But Weck does not only produce the well-known preserving jars. The company makes a large part of its business with the production of glass packaging for the food industry – for example for cucumbers, mustard and jam.