Manufacturers are struggling with the high energy costs, but retailers shy away from price adjustments.
(Photo: AFP/Getty Images)
Dusseldorf The wave of inflation has made a first prominent brand manufacturer a case for restructuring: according to the District Court of Düsseldorf, the hygiene paper manufacturer Hakle has filed for bankruptcy under self-administration.
The company, founded in 1928, was not able to pass on the increases in energy costs to retailers quickly enough, Hakle explains. The production of paper is particularly energy-intensive, and wood has also become scarce and expensive. The “Lebensmittelzeitung” reported first on Monday.
Hakle could only be the first example: Industry experts expect a wave of consolidation if the phase of rising procurement costs lasts longer. Johannes Sausen, Director of Consumer Goods and Trade at IKB Deutsche Industriebank, explains: “Consumer goods manufacturers can usually only implement price increases with a time lag. It’s not easy for many to take.” It’s also a sign of a deeper problem.
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