MS-Time GmbH files for insolvency, affecting Saxon window manufacturers

The Thuringian holding company MS-Time GmbH has filed for insolvency under self-administration. This filing impacts several window and door manufacturing companies located in Saxony, including FT Nickel in Weißwasser, Alusysteme Metallbau Bellmann and FTM Fenster- und Türenbau Mulda in Brand-Erbisdorf, Refafettin Großschirma, and Korsche Fensterbau in Zschopau.

Managing director Harald Bremer attributed the insolvency to rapid growth during a construction crisis, high debt levels, and rising interest rates that impacted liquidity. The company's financial stability was further compromised after a 14-million-euro contract in Berlin fell through. The group employs approximately 260 people across various locations in Germany.