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Bankruptcy of three Stute companies
Stute is a manufacturer and supplier of jams, sweet spreads, preserves and drinks sold mainly as Aldi's own brands. The company has been struggling with declining sales for several years, reports t-online.de. In 2011, annual turnover was 460 million euros, while in 2021 it amounted to only 234 million euros. In 2019-2021, losses increased from 9 million euros to 23 million euros.
To compensate for falling revenues, Stute has expanded its operations to include a beverage bottling plant, reports lebensmittelzeitung.net. According to industry sources, however, the company has lost orders from Aldi to Altmühltaler and has given up bottling Pepsico's Rockstar energy drink, among other things.
The manufacturer, bound by supply agreements with Aldi, announced on April 17, 2024 that it had filed for bankruptcy of three of its companies.
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Stute informs employees
On the day of the bankruptcy announcement, in the afternoon, Stute informed its employees about the situation. The 45-minute company meeting focused primarily on how to handle the bankruptcy process on their own. Current employees were not told anything about their future.
The works council and the trade union want to publish their position on the bankruptcy in a statement next week.
The process of establishing a family business was completed in 1885. The Neuenbeken company, founded by Wilhelm Stute, initially dealt in agricultural products and the production of fruit syrups. In 1934, the company moved to Paderborn, where production takes place in production plants covering an area of 500,000 square meters. The group recently employed around 400 people.
