Traditional German Companies Fasana and Buddeberg & Weck Face Insolvency Challenges in 2025
Two traditional German companies, Fasana and Buddeberg & Weck, face insolvency amid financial woes, cyberattacks, and stalled negotiations impacting hundreds of jobs.
- • Fasana faces bankruptcy risking 250 jobs due to high rent demands by CTP and cyberattack impacts.
- • Fasana negotiations with CTP for property sale have stalled despite investor interest.
- • Buddeberg & Weck scheduled a creditor meeting on October 14 to discuss restructuring after insolvency.
- • Local government expresses concern over potential site repurposing by CTP at Fasana's site.
Key details
Two longstanding German companies, Fasana and Buddeberg & Weck, are grappling with significant insolvency issues that threaten their survival and impact hundreds of employees.
Fasana, a historic company based in Stotzheim since 1919, is on the brink of bankruptcy, putting approximately 250 jobs at risk. The firm’s financial troubles have been exacerbated by a cyberattack in May 2025, which brought production to a halt and led to considerable revenue losses. Further compounding Fasana’s difficulties is the high annual rent of 1.5 million euros demanded by CTP, the property owner who refuses to sell the premises at a reasonable price. While CTP values the property at 27.5 million euros, an internal company assessment estimates it as worth about 10 million euros. Despite interest from international investors willing to invest over 50 million euros to revive Fasana, stalled negotiations with CTP have hindered progress. Fasana filed for insolvency on June 2, 2025, and although temporary employee salary payments were maintained initially, financial reserves have now been depleted. The company faces the possibility of closure if a resolution is not found soon. Local government officials have expressed concern over potential plans by CTP to repurpose the site as a logistics center, citing bureaucratic challenges.
Meanwhile, Wuppertal-based fabric wholesaler Buddeberg & Weck has also entered insolvency. A critical creditor meeting is scheduled for October 14, 2025, at the Wuppertal District Court to discuss restructuring plans. Insolvency administrator attorney Magdalena Konschalla confirmed these details, underscoring the ongoing efforts to explore recovery options for the company.
These parallel struggles highlight the vulnerabilities faced by traditional German enterprises amid financial pressures, operational disruptions, and complex property negotiations. The outcomes of both Fasana’s and Buddeberg & Weck’s restructuring efforts will be closely watched, given their wider implications for the local economies and employment.