The construction industry in Germany is experiencing a crisis. A building materials supplier in Lower Saxony, with approximately 40 employees, has recently filed for insolvency.
Germany is witnessing a wave of bankruptcies, affecting nearly every sector. The automotive supply chain, fashion retail, healthcare industry, and beverage manufacturers have all been impacted. However, the construction industry is particularly suffering from the challenging economic conditions. Recently, prefab house manufacturer Gussek Haus from Nordhorn and Helma Eigenheimbau AG from Kaarst fell victim to this trend.
Holz-Heinemann: Another casualty of the industry’s economic situation
Building materials dealer Holz-Heinemann from Goslar is the latest company to succumb to the crisis, as reported by the Goslarsche Zeitung on Thursday, August 29. The specialist retailer, founded 75 years ago with locations in Goslar, Reddeber, Osterode am Harz, and Nordhausen, has filed for insolvency. A sign reading “Closed until further notice” has been placed at the gates of the company premises in Goslar.
While Holz-Heinemann’s website provides no additional information and its internal links have been deactivated, their Facebook page offers some insight. The latest entry from August 29 is titled “Temporarily Closed” and states, “The economic situation in the construction industry is leaving its mark everywhere, including on us.” The company explains that they must temporarily close their doors and await further instructions from the insolvency administrator.
Impact on employees and reasons for insolvency
According to the Goslarsche Zeitung, Holz-Heinemann employs around 40 people. These employees were informed on Wednesday, August 28, that an insolvency petition had been filed with the Goslar District Court. The company cited significant declines in sales over the past year and a half as the primary reason for their financial troubles, attributing these losses to the current state of the construction industry.
