German brewing tech leader goes bust, seeks investor lifeline
The German engineering company Taufkirchen—Banke GmbH, which collaborates with breweries such as Heineken and Paulaner, has declared bankruptcy. The administrator is seeking investors to save the company, which has been in the market for 20 years.
Taufkirchen - Banke GmbH is a supplier of innovative technologies for breweries and is based in Bavaria, Germany. The company's services include brewhouses and various hop technologies.
They serve well-known breweries. They declared bankruptcy
A well-known engineering company that has been operating in the market for almost 20 years has declared bankruptcy. Taufkirchen—Banke GmbH's clients include famous beer brands such as Heineken, Paulaner, and Flensburg.
We have conducted an initial review and will now begin searching for investors. Interested parties can contact us. We are confident that we will find an investor, stated Daniel Barth from PLUTA Rechtsanwalts GmbH, the interim bankruptcy administrator, as quoted by merkur.de.
Despite declaring bankruptcy, the company continues its operations. Client projects are being implemented, and the salaries of 31 employees are secured for three months.
Managing director Friedrich Banke announced, "We now need an investor who will take over our operations. Banke has a good customer base and a strong international presence."
The German portal reports that the cause of insolvency is "postponement of order fulfillment due to poor economic conditions," "a significant rise in project costs," and "a generally weak investment climate."
Problems of breweries in Germany
The German brewery market is also struggling. The portal portalspozywczy.pl reports that in the last five years, the number of breweries in the country decreased by 93, bringing the total to 1,459. Both start-ups and traditional breweries are closing.
The most significant decline was noted in Bavaria, where the number of breweries decreased by 50, although it still has the most, with 598.
