Vollmer Werke files for insolvency in Germany

Vollmer Werke Maschinenfabrik GmbH, a long-standing German machine manufacturer founded in 1909, has filed for insolvency proceedings under self-administration at the Ravensburg District Court. The company, based in Biberach an der Riß, specializes in the development and production of sharpening, grinding, and laser processing machines for the wood and metalworking industries.

The filing affects approximately 450 employees at the main headquarters, though the group employs around 1,200 people globally. Management stated that the move is necessary to stabilize the company’s economic situation and realign it for the future amidst a difficult market. Key factors contributing to the financial distress include the loss of the Russian market following the war in Ukraine, which previously accounted for roughly 10 percent of revenue, as well as rising costs and weak demand.

Operations are expected to continue without interruption. The company’s management remains in office, supported by restructuring expert Dr. Holger Leichtle from the GÖRG law firm. While the business is fully funded for the next six months, wages and salaries for the first three months will be covered by insolvency benefits from the Federal Employment Agency.