Fasana's Future Hangs in Balance as Insolvency Talks Fail
Fasana, a century-old tissue manufacturer in Euskirchen, faces an uncertain future. The company has been battling insolvency for four months, with employees set to learn more about their prospects in a meeting tomorrow. Despite interest from international buyers, a takeover has not materialised due to high property demands and a cyberattack.
Fasana's struggles began with soaring energy costs and economic pressures. The situation was exacerbated by a cyberattack in early June, leading to an insolvency filing. Two large international companies expressed interest in buying Fasana, but negotiations failed due to the property owner's excessive price demands, three times higher than Fasana's estimate. Karsten Beisert, Fasana's managing director, has been in talks with the city of Euskirchen to find a solution and prevent the company's closure.
The future for Fasana's employees hangs in the balance. With over 100 years of history, the company's closure would be a significant loss for the local community and workforce.
Tomorrow's works meeting will provide Fasana's employees with crucial information about their future prospects. Meanwhile, managing director Karsten Beisert continues to seek a solution with the city of Euskirchen, aiming to save the historic tissue manufacturer from closure.
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