More than 200 jobs at risk:
A German office furniture manufacturer has filed for insolvency after 168 years in operation, placing more than 200 jobs at risk.
© Atit Phetmuangtong | Dreamstime
The Saxony-based company, OKA, submitted its application on 1 April, with a provisional administrator appointed to oversee restructuring efforts. Despite the financial difficulties, operations are continuing “without restriction” for the time being, with employee wages secured for three months.
The company’s challenges are largely linked to delays and rising costs associated with the construction of a new…