Display manufacturer pod GmbH's commercial activities remain in full swing
Business Continues as Usual for Display Manufacturer pod GmbH under Preliminary Insolvency Proceedings
A local court-appointed administrator from Schultze & Braun, Tobias Hartwig, has initiated preliminary insolvency proceedings for the Braunschweig-based promotional display and packaging manufacturer, pod GmbH. Despite these proceedings, the company's operations continue uninterrupted, and existing orders are being fulfilled as agreed upon. New orders are also welcomed.
Established in 1907, pod GmbH is a traditional, family-owned company that specializes in producing custom-made promotional displays and packaging for point-of-sale product presentations. The company has been a cornerstone of Braunschweig's advertising materials industry for nearly 120 years.
Hartwig, along with his team, is currently assessing the financial status of the company and exploring restructuring options. The primary objective is to secure the company's future and keep as many jobs as possible. Salaries and wages of the 32 employees are secured until at least the end of July.
Preliminary talks have already begun with potential investors, and further discussions are expected to progress expeditiously.The crisis facing the company is attributed to a prolonged decline in sales due to cautious advertising spending by customers, exacerbated by various economic challenges, such as the pandemic, the Ukraine war, inflation, raw material prices, skilled labor shortages, and unpredictable market conditions.
Without immediate market recovery anticipated, the management decided to file for insolvency to stave off imminent insolvency. However, Hartwig remains optimistic, stating that the early filing equates to a strategic move that increases the company's chances of recovery.
pod GmbH generates around four million euros in annual sales with itsPoint-of-Sale displays, which are predominantly used in the food retail sector, drugstores, and bookstores. Schultze & Braun, a leading service provider for insolvency administration and restructuring and insolvency law, is supporting the company through this process.
While data suggests that other companies such as CustomCells in Germany have also faced insolvency due to financial difficulties[2], each situation is unique, and specific restructuring options may be explored and negotiated based on the individual company's circumstances.
Finance and business opportunities are under investigation by Schultze & Braun's Tobias Hartwig, as he seeks to restructure pod GmbH following the company's entry into preliminary insolvency proceedings. The company, a prominent figure in Braunschweig's advertising materials industry, continues to honor existing orders and welcome new ones, despite these financial challenges.
