Eichenzell. Within the course of the past year the global economic growth slowed down and thus also the German economy. Many sectors of the German economy recorded a declining number of orders. Wirthwein Eichenzell GmbH & Co. KG too did not meet the sales, cost, and profit targets of 2018 and 2019. Sales and revenue expectancies for the subsequent years are also negative. A relocation of production by customers to Eastern Europe and an ever increasing globalization put additional pressure on the company.
In the past weeks the situation has further aggravated due to the SARS-CoV-2 pandemic so that sales collapsed even more. Some months ago the company already decided to take cost reduction measures, such as the introduction of short-time work.
Despite the efforts and measures taken the longstanding poor order situation and associated profit situation does not seem to improve. Unfortunately, the latest plan figures for the upcoming years confirm this negative trend even more. Due to this negative outlook the situation is no longer economically viable.
After intensive deliberations, the three managing directors of Wirthwein Eichenzell GmbH & Co. KG decided to close down and liquidate Wirthwein Eichenzell GmbH & Co. KG effective from 2020-12-31. “We deeply regret that we have to take this measure due to the currently tense situation“, the managing directors Frank Wirthwein, Marcus Wirthwein and Rainer comment the hard decision. The management informed the employees concerned by the closedown within the framework of a works meeting.