Mocopinus, a leading industrial company in wood processing, has filed for bankruptcy in self-administration. Despite the financial difficulties, business continues to run at the Ulm, Karlsruhe and Ammelsheim locations. The restructuring is intended to make the company future-proof and secure the jobs of its 270 employees.

Mocopinus GmbH & Co. KG, a renowned company in the wood processing industry based in Ulm, recently filed for self-administration bankruptcy. This decision was made due to the sharp decline in construction activity and the decline in the number of residential building permits, which have significantly impacted business. In addition, the loss of Siberian larch, which is no longer available as a result of the war in Ukraine, has put a strain on the company’s economic base.

The Ulm district court approved the application for self-administration and appointed Georg Jakob Stemshorn from the PLUTA law firm as provisional administrator. In such proceedings, the management remains able to act and can organize the restructuring itself. Business operations continue to run at all locations and employees’ wages are secured for three months by the insolvency money.

Mocopinus’ origins date back to 1865, when the company was founded as a regional sawmill. Today it is one of the leading industrial planing mills in Europe and specializes in refined wood products. With 270 employees at the Ulm, Karlsruhe and Ammelsheim locations, Mocopinus is a major employer in the region.

The management, supported by the Finkenhof law firm, is planning a structured process for refinancing and developing strategic options. This also includes examining an investor solution to stabilize the company in the long term. CEO Ulrich Braig emphasizes that self-administration offers the opportunity to actively shape the chosen path and to position Mocopinus for the future.

Source: chip.de