End decided for insolvent paper mill Kabel Premium Pulp & Paper

Lawyer Prof. Dr. Peter Neu from the insolvency and restructuring law firm ATN d'Avoine Teubler Neu Rechtsanwälte will have to close the long-established Hagen-based company Kabel Premium Pulp & Paper due to economic and insolvency law requirements with the opening of insolvency proceedings on June 1, 2025. The investor process had failed despite several expressions of interest from potential investors. The remaining 420 or so employees were informed of this at a works meeting.

Their employment contracts will be terminated for operational reasons. A team of around 30 to 40 people will ensure the orderly liquidation of the company over the next few days, according to a statement. The company's assets, including the premises, machinery and equipment as well as remaining stocks of raw materials and finished goods, will be liquidated.

“Over the past few weeks, we have exhausted all conceivable options to secure the continued existence of Kabel Premium Pulp & Paper GmbH. Unfortunately, despite intensive efforts, we were unable to find an investor who was prepared to preserve the tradition and the jobs. Due to the high losses, it is not economically feasible to continue the company. We therefore have no choice but to cease operations and lay off all employees. This is a painful step, especially in view of the company's long history and its great workforce, whom I would like to expressly thank for their commitment over the past few weeks,” explains Prof. Dr. Peter Neu.