German meats supplier Allgäu Fresh Foods (AAF) has filed for insolvency protection proceedings amid “increasing” cost pressures.
In a statement announcing the move, the company said it submitted the application to the competent district court in Kempten on 22 April.
The Feneberg Group subsidiary said cost and price pressures have been “increasing simultaneously” in this business segment for many years.
“To ensure continued success in the future, the company must implement extensive restructuring. This includes, among other things, reducing the company’s financial burdens through insolvency protection proceedings in order to gain the necessary freedom to shape a secure future,” it added.
The filing initiates a…
