German upholstery struggles: Edward Schillig brings the books in court, workers and suppliers show concern

Salaries for the month of July were paid, while production at the end of vacation should restart normally (also thanks to the suppliers’ trust and faith). The same suppliers, though, are concerned (together with the workers) because the lack of liquidity will detrimentally impact the payments. Edward Schillig, German brand producing upholstery has presented its books in court on July 13^th. According to NeuePress (news source), the brand is torn between the challenging financial situation and the will to continue its work. “The difficulties the company is having are mainly due to the price pressure being put on it by its Eastern European competitors – explained the liquidator named by the court to the press -. We are studying the balance sheet to better find a solution to the problem”. Debt restructuring and actions on the organic system of the brand will be necessary, the curator likely means. The brand is present in 10 markets and has 9 production sites in 6 different countries (230 employees in total). Edward Schillig has a 68 million Euros yearly revenue.