Million-Debt: Cult Manufacturer Apparently on the Verge of Insolvency
Aachen-based manufacturer faces possible insolvency as liabilities rise to millions.
Company leadership silent, employees concerned about the future of their jobs.
The Aachen-based cult manufacturer "Esoterikbedarf GmbH" is reportedly on the verge of insolvency. According to information from the "Aachener Zeitung", the company has accumulated liabilities in the millions and is now facing possible insolvency. The company's management has not yet commented on the situation, but employees are said to be concerned about the future of their jobs.
The company, which was founded in 1982, is known for its wide range of esoteric products, including crystals, incense, and meditation aids. In recent years, however, the company has been struggling financially. In 2020, the company reported a loss of €1.5 million, and in 2021, the loss widened to €2.5 million.
The company's financial woes are said to be due to a number of factors, including the decline in interest in esoteric products, the rise of online competition, and the COVID-19 pandemic. The company has also been hit by a number of lawsuits from former employees who claim they were not paid their full wages.
The company's management has not yet commented on the situation, but employees are said to be concerned about the future of their jobs. The company's insolvency would be a major blow to the local economy, as it employs around 50 people.
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