Dutch packaging company Koninklijke Paardekooper bankrupt, 700 jobs at risk

"The administrators are now hard at work initiating the winding-up process," says Marcel Paapst, spokesperson for Paardekooper. He therefore prefers to keep his statement brief. The company employs approximately 700 people in the Benelux region. Dutch employees will likely continue to receive their wages through the UWV (Employee Insurance Agency) in the coming weeks. "But we still need to hear all the further details," Paapst adds.

Find buyer

The administrators will investigate whether a buyer can be found for the company, or parts of it. For the time being, however, packaging deliveries are halted, and the company's online stores are inaccessible. The general company website remains online.

For example, Paardekooper makes reusable cups for festivals, produce bags for supermarkets, shipping boxes for retailers, and film for food products, such as pizzas. Its customers include companies like Intratuin, De Bijenkorf, and Omoda.

Albert Heijn

Albert Heijn was also a customer. "Paardekooper supplied packaging materials, including baguette bags and fruit and vegetable bags," a spokesperson told RTL Z. "We are currently looking for alternative suppliers. We currently have sufficient stock."

Liquor store Mitra also announced via the ANP that it is looking for a new partner for, among other things, the wrapping paper.

According to a spokesperson, there are plenty of alternatives available, allowing customers to still have their gifts wrapped. "We've already had ten competitors on the phone this week who are ready to take over."

Postponement of payment

This competition and rising costs are said to have contributed to the company's problems. Earlier this week, Paardekooper filed for suspension of payments with the court, claiming it could no longer meet its payment obligations.

Over the past few months, shareholders and management have worked intensively on solutions to make Paardekooper financially sound and future-proof. Every effort has been made to secure refinancing and secure sufficient capital to continue operating, the company said in a statement. However, that financing failed to materialize and ultimately led to bankruptcy.

Million dollar turnover

On its website, Paardekooper, founded in 1919, claims to deliver to over 75 countries. The company claims to have an annual turnover of "over 400 million euros." On its centennial anniversary in 2019, the company was granted the Royal Warrant.

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