The judicial liquidation of the German paper manufacturer Zanders would only be a matter of days, according to the German press. The administrator, Mark Boddenberg, told the newspaper Bürgerportal that it was no longer possible to save the premium paper and board producer.
The manufacturer, which had filed for insolvency in March, had not fulfilled various obligations with the Cologne Commercial Court.
Last March, when it announced its application for insolvency, the paper manufacturer had indicated that "management and staff as well as some key suppliers and customers have already shown their support" and that an independent study confirmed the company's good future prospects because of its machinery, its expertise in paper manufacturing and its product portfolio including strong brands such as the famous Chromolux.
But according to the German newspaper, the Swedish investment group Jool Invest AB, which had entered the capital of the group in 2019, would have refused any further investment.
The paper and board manufacturer operates a mill near Cologne and employs about 380 people.
