Crown Van Gelder B.V. has been declared bankrupt by the District Court of Noord-Holland with its financial difficulties partially attributed to the high costs of energy and raw materials.
The company is a producer of paper for such applications as ice cream packaging, luxury shoppers, and High Speed Inkjet printers. It possesses two paper machines at its mill in Velsen and reports that it sells 90% of its paper to customers outside of the Netherlands.
In spite of its apparently positive operating result for the 2022 financial year, Crown Van Gelder has been unable to resolve a liquidity shortfall caused by increased costs especially those stemming from energy and raw materials and a sharp decrease in orders causing long-term stands…
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