Codema bankrupt: "It seems that Codema has been hit harder than similar companies"

In the grocery store , it was known that the situation at Codema Systems Group was n’t stable over the last duo of year . With the failure declare yesterday , more than sixty class of horticultural story have come to an end . At the same clip , various parties are already showing interest in taking over parts of the horticultural supplier .

HistoryHAWE , the predecessor of Codema , was plant in 1958 by brothers Herman and Huub Wooning . With their electro - trolleys for intimate logistics and mobile container system , they also took their first step abroad . In 1998 the company , by then also active in project development , was taken over by Maarten de Jager and merged with atomic number 13 producer WEVAB . After the takeover of SDF in 2002 and that of B - E De Lier in 2011 , the society stay on under the name Codema since 2016 .

SetbacksThere had been rumour in the market for some prison term about the many staff office changes within the fellowship since the coup d’etat of Codema by Nordian Capital in 2018 , yet according to a fellowship spokesman , dependable business in China and Canada ensured potent sales growth in 2018 and 2019 . A branch was open up in China in 2019 .

However , 2020 saw uncollectible numbers and major setbacks in both countries , according to the company interpreter , in China mainly prompted by Saint Elmo’s light .

" The pandemic and change of location limitation made acquisition abroad and project execution more difficult , especially in market where Codema had done good business in previous years or see good prospect . What also did not help was that working at home offered no option to wreak on site . It seems that Codema has been hit hard than comparable company . "

singular situationIn the recent period , market developments such as the high price of raw materials , conveyance and material costs , and geopolitical developments have made it difficult for Codema ’s customer and for the company itself to get back on its feet . " We mark that growers ' willingness to invest is decline . "

portion that other parties may also have to deal with , but which , according to the representative , in compounding and in strength , have created a singular position for Codema . A late analysis by secret equity in horticulture stated that Codema saw its upset almost halved to EUR 44 million in 2020 and that it realize an EBITDA of minus EUR 1.5 million .

' Unforeseen circumstances’The voice sound out that whether the financing burden since the takeover by secret fairness Nordian Capital in 2018 also contributes to this office can not be said right now . " That is up to the legal guardian . " Nordian Capital itself does not comment on the bankruptcy filing and refer to Codema for clarification . " The international market in which Codema operates has deteriorate staggeringly in recent twelvemonth due to a mixed bag of causes , many of which could not have been counter , and this has had a unmediated impact on Codema ’s line of work operation , " partner Joost Verbeek indicates .

140 employeesIn any case , last twelvemonth , a new Board of Directors was appoint , which in the recent period intensively searched for a strong fiscal cooperator to take over the society , for financial long suit to bear on the business organization . The Belgian branch of the company was sold to Bosman Van Zaal . " Finding a coup d’etat campaigner for the whole package in the end proved unsuccessful . A bankruptcy is , of course , the last solution you want , especially for the 140 employee " , read the representative . Yesterday , the management itself shared the sad news of the failure with the employee in the Bergschenhoek and Venlo branches .

Relaunch?At the same time , there is hope that the regent , Mr. C.F.W.A. Hamm of Borsboom & Hamm Advocaten in Rotterdam , will be able to restart the salable parts , something that will hopefully become clear in the next few days and for which the market is already showing pursuit .

Among other thing , the trustee must make decisions on how to proceed with current projects . The market has already made question about this at Codema . It is now up to the regent to adjudicate .

InvestorIs this the end of the horticultural risky venture of investor Nordian Capital ? Not so much . " Each newfangled investment is essay against the following criterion : a company focus on development , a top dog office in the Netherlands , a profitable party , a typical client proposition , innovative R&D , growth electric potential in new sphere , or the hypothesis of becoming a market loss leader in ( recession ) marketplace . This , therefore , also applies to potential novel investment in the horticultural sector . "

Mr. C.F.W.A. Hamm of Borsboom & Hamm Advocaten of Rotterdam has been appointed as curator . The bankruptcy of Codema Systems Group B.V. has been registered under number 10.rot.22.91.F.2025-03-01 . Bankruptcy has also been declared in respect of Codema EMEA B.V. and Codema Nederland B.V ..