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- Attorney Tobias Wahl from Anchor Rechtsanwälte appointed as provisional insolvency administrator
- Conen Group is one of the leading manufacturers of furniture for educational institutions and offices
Wittlich/Mannheim, February 27, 2025. The Conen Group has fallen into a serious crisis. For this reason, the five companies belonging to the group Conen Holding GmbH, Conen Produkte GmbH, Conen Real Estate GmbH, Conen Systems GmbH and Möbelwerke Niesky GmbH filed for insolvency at the Wittlich Local Court on February 25, 2025. The court granted the application and appointed attorney Tobias Wahl from Anchor Rechtsanwälte as provisional insolvency administrator. Shortly after the insolvency application was filed, the provisional insolvency administrator Tobias Wahl, together with lawyer Remo Kruse and his team on site, gained an overview of the situation and also held talks with the management and key business partners. The employees were informed about the current situation and the following steps in the insolvency proceedings.
Leading furniture manufacturer for educational institutions
The companies of the Conen Group are among the leading manufacturers of furniture for educational institutions and offices of all kinds. Three business divisions are united under the umbrella of Conen Holding GmbH: Möbelwerk Niesky in the field of kindergarten furniture and equipment, Conen Systems for furniture and interactive systems, especially for the IT sector and worldwide for educational institutions, and Conen products for the corporate and conference sector. Conen offers innovative furnishing concepts for contemporary and holistic furnishing of daycare centres, educational institutions as well as office and conference rooms. The group of companies was founded in 1960 and has three locations in Morbach-Gonzerath (LK Bernkastel-Wittlich), Niesky (near Dresden), Borchen (near Paderborn). Around 225 employees recently generated sales of around EUR 64 million. In 2019, the investment company Halder acquired the full shares of the owner family in the Conen Group as part of a management buy-out.
Restructuring already started
The group of companies has had to contend with declining sales in recent years. The main reasons for this were the slump in business with major US customers, the hesitant implementation or continuation of funding programmes as part of the “Digital Pact 2.0” and considerable competitive pressure from Chinese competitors. In addition, there was a large interest and debt burden from the takeover in 2019. Restructuring measures were already started at the end of 2024, which will now be continued in the insolvency proceedings.
Furthermore, a new investor was to take over significant shares in the company. Negotiations were very advanced after the turn of the year. In mid-February, however, a lender unexpectedly withdrew its commitment. This made it unavoidable for the Conen Group to file for insolvency.
New investor solution sought
The provisional insolvency administrator Tobias Wahl from Anchor Rechtsanwälte is seeking a new investor solution for the Conen Group. The first discussions on this will be held in the coming days. There are also plans to initiate a structured investor process. The salaries of the approximately 225 employees are secured by the insolvency payments of the Employment Agency.
Team of Anchor Rechtsanwälte
Attorney Tobias Wahl
Attorney Remo Kruse