Schwäbisch Gmünd: Traditional glasses manufacturer Menrad on the brink of extinction!

Schwäbisch Gmünd: Traditional glasses manufacturer Menrad on the brink of extinction!

In the face of upheaval and challenges, two traditional companies in Germany are confronted with significant problems. The Schwäbisch Gmünd-based eyewear manufacturer Menrad recently filed for bankruptcy and is now closing its headquarters, marking the end of a 129-year history. The insolvency administrator Florian Zistler is actively looking for investors, while the trademark rights and the entire inventory have been sold to the Design Eyewear Group from Denmark. This acquisition includes well-known brands such as Jaguar, JOOP! and Morgan. Overall, this decision also affects all 115 employees at the headquarters in Schwäbisch Gmünd, who now have to be laid off, and the ten field staff will also be taken over by the new owner. The aim of the Design Eyewear Group is to expand the brand presence in Europe, Asia-Pacific and North America, as [Merkur] reports.

However, the news about Menrad is not the only one that is currently causing an uproar. The Freital glassworks, which was founded in 1802 and can look back on 223 years of company history, has also filed for bankruptcy. In this small glassworks, which specializes in the production of bottles and glasses, almost a third of the 125 employees are to be laid off, which will affect around 40 jobs. The reasons are similar to Menrad: sharp increases in energy costs and falling demand for glass products are affecting the industry. Management is planning to go through bankruptcy on its own responsibility, along with a comprehensive restructuring plan, to potentially save the glassworks, as [Business Journal] informs.

The challenges of the glass industry

The problems at the Freital glassworks are part of a larger trend in the German glass industry. Other companies also face similar challenges. The Drebkau glassworks fears closure, which threatens 163 jobs. The signal is clear: the entire industry must adapt to the new market conditions in order to survive. The Mining, Chemical and Energy Industrial Union (IG BCE) has already organized protest events to draw attention to the precarious situation, and the coming months will be crucial for the future of these companies, as explained in [Chip].

At a time when many traditional companies are fighting for their existence, it is also clear how quickly economic conditions can change. While there are issues of the immediate future that need to be clarified for Menrad and Glashütte Freital, the challenges for the entire industry are unmistakable. Hope dies last, but reality is often merciless and leaves little room for optimism.