The largest tile factory declares bankruptcy. He is also looking for an investor

Broken tiles? The largest ceramic tile production plant in Europe is on the brink of collapse. Panariagroup Deutschland, which produces brands such as Kerateam, Steuler Design and Grohn, announced its insolvency. Cito is currently looking for a new investor who will enable the construction industry giant to continue its work.

German industry has long been struggling with high energy costs, poor economic conditions (in this case, the construction industry is particularly affected) and high labor costs. Until now, the automotive industry was considered the most affected by these economic plagues. However, as it turns out, she is not the only one.

The district court in Chemnitz received an application from the Panariagroup group regarding the need to use bankruptcy proceedings against one of the leading producers of ceramic tiles. “This is to enable the plant to carry out a restructuring plan that will enable the investor to take over the company without debts“- reports “Bild”.

For now, the factory will operate for the next three months, a orders are processed according to the previous schedule. Employed people will receive remuneration as usual, with money provided until June in total.

Bet Panariagroup Deutschland is located on approximately 16 hectares and employs approximately 230 people – so it can undoubtedly be described as the largest tile manufacturer in Germany. Its offer includes both ceramic floor and bathroom tiles from brands such as Kerateam, Steuler Design and Grohn. It could produce up to 6.2 million square meters of tiles annually. His clients include both developers and individuals renovating their apartments. Ceramic tiles from this plant can also be purchased in Poland.

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