Koninklijke Paardekooper Group applies for suspension of payments

© Koninklijke Paardekooper Group

The Koninklijke Paardekooper Group (KPG) has applied for suspension of payments at the courts in Rotterdam and Amsterdam, a decision that comes as the packaging supplier can no longer meet its financial obligations. The court has appointed Mr. L.Th.A. Boender and Mr. R. le Grand as administrators. Together with the company’s management, they will now explore what options are still possible for the future.

Over the past months, shareholders and management have worked hard to keep Paardekooper financially healthy and future-proof. Every effort was made to arrange refinancing and secure enough capital to continue operations, with KPG at one point being close to a solution, only for it to fall through at the end, with the financial pressure becoming so heavy that the company had no choice but to request suspension of payments.

The Royal Paardekooper Group was founded in 1919 as a family business, and now provides packaging to companies across many different sectors, including horticulture. Today, the company is active in more than 75 countries worldwide.

Source: The Plantations International Agroforestry Group of Companies