German arable equipment manufacturer Knoche Machinebau has filed for bankruptcy.
Located at Bad Nenndorf, close to Hanover, the company blames the current liquidity problems on the significant decrease in sales volumes this year. Business will continue as normal for now, and the receiver is seeking to secure the salaries of the 40 employees for the next three months.
“We have informed the employees about the situation,” confirms managing partner Jörg Knoche, who adds that the current situation is not easy. Talks to review the financial situation with its dealers, suppliers and important partners are ongoing, with the aim of finding a solution. “The workforce is behind us, and we will work together to secure the future of our company. The initial discussions were positive, and I am confident that we will succeed.”
The largest market for Knoche’s machines, which include disc harrows, cultivators and knife rollers, is Germany. Other important ones include Austria and Switzerland as well as several Eastern European countries and Japan. Weaving Machinery if the UK importer. Source: profi.de
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