One of many cascading failures in business happening right now:
“The toilet paper manufacturer Hakle has filed for insolvency proceedings under self-administration. The medium-sized company from Düsseldorf explains this primarily with the increased energy costs. Already at the beginning of corona pandemic Hakle announced that there had been major upheavals in the raw materials, logistics and energy markets for the energy-intensive paper industry.
As a result of the war in Ukraine, however, the company was confronted with a “historical aggravation of the situation”, according to the traditional company. “So far, the massively increased costs for material and energy procurement as well as transport could not be passed on to customers in the food retail and drugstore sector to a sufficient extent in terms of time and economy,” the company said.”
newsingermany.com/toilet-paper-manufacturer-hakle-is-insolvent/
AC