Glass tableware manufacturer Ritzenhoff has filed for insolvency under self-administration due to economic challenges.

The company is well-known for its colourful designs on drinking glasses that can be found in many German households.

The company said the move was part of a strategy for the long-term stabilisation of the company amid ongoing business operations.

It blamed rising energy and raw material costs, as well as the aftermath of the Covid pandemic, ‘which have significantly impacted the business environment and supply chains’, it said.

“This includes changes in customer and purchasing behaviours, especially in the brewery sector, necessitating a profound strategy shift.”

Carsten Schumacher, CEO of Ritzenhoff, said: "The decision for self-administration restructuring was not made lightly, but given the current situation, it is the right move to proactively address the future of Ritzenhoff and adjust our business strategies.

“These steps are essential to ensure our company's competitiveness and long-term success. We are confident that this process will strengthen our corporate structure and enable us to continue delivering the highest quality 'Made in Germany.'"

The initiation of the self-administration restructuring procedure will not affect its ongoing business processes. Sales and all other operational activities will continue as usual, maintaining uninterrupted service.

Orders will be processed as normal, and production, as well as the entire warehousing and delivery logistics, will remain unaffected by this development, ensuring the continued provision of established service and quality standards.

Employees will be regularly informed about the filing and subsequent steps, including through staff meetings.

Moreover, their financial security during the self-administration restructuring procedure is fully ensured, as their wages and salaries are protected by insolvency funds.

This step allows the company to build financial reserves crucial for the restructuring process.

The restructuring is supported by entrepreneur Robert Tönnies, who invested in Ritzenhoff in autumn 2023.