Due to the continuous high cost of energy and raw materials, the Dutch paper maker Crown Van Gelder filed for bankruptcy. Just a few days ago, the Northern Netherlands District Court announced that the enterprise was officially bankrupt. It is reported that the enterprise has 4000 employees and mainly produces various types of paper for specific applications, such as ice cream packaging, luxury consignment paper and high-speed inkjet printing machines.

“Due to the stagnation of the market, our business development often stagnates,” Crown Van Gelder’s director Michaelis Delonks told the Dutch newspaper de Volkskrant, “because after the outbreak of the COVID-19, the prices of energy and raw materials have risen significantly, which makes the production and operating costs of enterprises in all aspects continue to increase.”

In an official statement, Crown Van Gelder explained that the final financial problem was the result of a combination of multiple factors. Despite the good business performance of Crown Van Gelder in the 2022 fiscal year, the enterprise still failed to solve the problem of liquidity shortage, mainly due to the abnormally long production pause caused by the increase of costs and the sudden decline of orders. In 2021, Van Gelder’s energy bill increased to 20 million euros.

In addition, the company is uncertain about the recent market development. However, just a few months ago, the paper mill located in the north of Vilsen in the Netherlands also celebrated its 125th anniversary.