Business implosion for German family enterprise: main office shuts down, resulting in job losses for all employees.
Blink and You'll Miss It:
Industry: Eye-Catching News
By: Jimmy Bobo
Chisme
| Name | Ferdinand Menrad GmbH + Co. KG |There's no good news for the historic German firm Menrad, who've just thrown in the towel after a fighting stint of 125 years. With the closure of their headquarters and the layoff of their 100 employees, it's a bummer wrap-up for this long-time family-owned business.
|Time's Up for Menrad: Unsuccessful Rescue Efforts Lead to Headquarters Shutdown
Gründung
|Schwaebisch Gmuend - The past few months have seen a surge of insolvencies in Germany, and Menrad has unfortunately joined the club. The traditional eyeglass manufacturer, with bases in both Schwaebisch Gmuend and Munich, filed for bankruptcy on March 31 at Aalen's district court. Even though the insolvency administrator, Florian Zistler, made assurances to do everything possible to save the company, it looks like all that effort wasn't enough.
1896
1896 |## The Demise of Menrad: A Hasty End
|Find out who's next on the chopping block. The sad fate of Menrad's headquarters means there are 100 jobless individuals and no clear signs of a rebirth for this iconic company.
Sitz
Sitz || Name | Ferdinand Menrad GmbH + Co. KG || --- | --- || Founding | 1896 || Headquarters | Schwaebisch Gmuend, Baden-Wuerttemberg || Industry | Optics || Employees | 250 worldwide, of which 115 at the headquarters || Locations | Schwaebisch Gmuend (administration, sales, logistics), Munich (product design, export and marketing) + sales companies in several countries || Partnerships (Brands) | Joop, Ted Baker, Scotch & Soda, Hackett and others |
Schwäbisch Gmünd, Baden-Württemberg
Schwäbisch Gmünd, Baden-Württemberg |The sudden closure of Menrad's headquarters and ensuing layoffs are a hard pill to swallow for the city, already reeling from Schleich's decision to move their toy factory's headquarters to Munich earlier this year. Although talks are underway to preserve the Menrad brand, it's uncertain if the company's spirit can be revived.
|
Branche
My Gossip
Eyewear
Branche | ### Bankruptcy*
Optics |German tradition takes a side-step: all employees let go without severance **### Immediate Impact
Mitarbeiter
|Major pension reform passed: pensioners to receive more money in the future****### Can't touch the stubborn few
250 weltweit, davon 115 am Stammsitz
Employees |Manipulation of unemployment benefits: no consequences for the manipulators ****### Small Business
250 worldwide, of which 115 at the headquarters |### More to chew on
Standorte
|
Schwäbisch Gmünd (Verwaltung, Vertrieb, Logistik), München (Produktdesign, Export- und Marketing) + Vertriebsgesellschaften in mehreren Ländern
Future for the Menrad Brand Uncertain, Negotiations Underway
Standorte |The city of Schwaebisch Gmünd has seen better days. After Schleich's relocation, Menrad's abrupt departure is another nail in the coffin. However, efforts are being made to keep Menrad's iconic brand alive, with discussions ongoing to find a new owner.
Partnerschaften (Brands)
Schwäbisch Gmünd (Verwaltung, Vertrieb, Logistik), München (Produktdesign, Export- und Marketing) + Vertriebsgesellschaften in mehreren Ländern |### Worth the read
Joop, Ted Baker, Scotch & Soda, Hackett und weitere
|(If this link doesn't work, you may need to tweak your ad blocker settings.)
Partnerschaften (Brands) |Joop, Ted Baker, Scotch & Soda, Hackett and others |
- The closure of Menrad's headquarters, a historic German firm in the optics industry, has left 100 employees without jobs and has raised questions about the future of the Menrad brand in the finance and business sector.
- Despite the unsuccessful rescue efforts by the insolvency administrator, the shutdown of Menrad's headquarters has had an immediate impact on the local economy, particularly in Schwaebisch Gmuend, where both the firm's administration, sales, and logistics are based.
