Glass tableware manufacturer Ritzenhoff has filed for insolvency under self-administration due to economic challenges.
The company is well-known for its colourful designs on drinking glasses that can be found in many German households.
The company said the move was part of a strategy for the long-term stabilisation of the company amid ongoing business operations.
It blamed rising energy and raw material costs, as well as the aftermath of the Covid pandemic, which have significantly impacted the business environment and supply chains, it said.
This includes changes in customer and purchasing behaviours, especially in the brewery sector, necessitating a profound strategy shift.
Carsten Schumacher, CEO of Ritzenhoff, said: “The decision for…
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