The traditional Osnabrück-based chocolate and confectionery specialist Leysieffer has filed for bankruptcy for the third time since 2019. Despite marketing their “finest chocolate creations” made with premium cocoa, decadent cocoa butter, and aromatic spices, the company faces a bitter economic reality.
Employee concerns and immediate actions
Attorney Stephan Michels has been appointed as the provisional insolvency administrator for Leysieffer Genussmanufaktur GmbH. According to local media reports, the company’s approximately 150 employees have been waiting for their salaries since August. They are now expected to receive insolvency benefits while the administrator attempts to quickly find a buyer for the company, though this is not expected to be an easy task.
History of failed turnaround attempts
Founded in 1909, Leysieffer underwent its first insolvency proceedings in 2019, resulting in a sale to US investor Deel & Winkler, who acquired majority shares in 2020. However, the restart failed due to COVID-19 pandemic restrictions and difficulties in obtaining government aid due to the ownership structure. Rising raw material and energy costs further complicated matters, leading to a second insolvency in 2022. Subsequently, the owner family of the Zeitfracht logistics group invested in Leysieffer through a private investment company, attempting to restructure the business.
Recent ownership changes and industry parallels
In July, Holstein Schoko UG, led by businessman Dieter Metz, acquired the Osnabrück company retroactively from January 1, 2024. Metz, previously a manager at outdoor specialist McTrek and CFO of Reno (once Germany’s second-largest shoe retailer after Deichmann), has experience with troubled companies. Both Reno and McTrek filed for insolvency in the past year, with industry insiders noting parallels between these cases and Leysieffer’s current situation.
