The corona crisis has brought another traditional company to its knees: Berlin-based praline producer Sawade. The company, which previously supplied the court of the Russian Tsar, wants to reorganize.
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Berlin-based praline maker Sawade has filed for bankruptcy under self-administration. This stems from a company communication. As a result, the traditional company, which was founded in Berlin in 1880 on the street “Unter den Linden”, wants to renovate.
All five of the manufacturer’s stores remain open, with sales and production continuing. All 84 employees are currently receiving bankruptcy payments.
Sawade has already had to file for bankruptcy
The company, which previously supplied the Russian Tsar Court, had to file for bankruptcy in 2013. It was later taken over by a few investors and the packaging line, for example, was fundamentally revised.
The cause of the current bankruptcy is due to the effects of the corona pandemic. “This led to lower sales as a result of the foreclosure,” the statement said. Therefore, the previous modernization process has stalled.