Aldel

2022: Aldel goes bankrupt due to high energy prices due to conflict with Russia

October 28, 2022 it became known that the day "X" has come for the Aldel aluminum plant; the Delfzale company was declared bankrupt by the ​​sudom in Groningen. Earlier, the judge had already granted Aldel a deferred payment, this is a prelude to bankruptcy.

In recent weeks, the company has tried unsuccessfully to resolve payment problems through borrowing from external financiers.

Aldel CFO Eric Wildshut cites top reasons for bankruptcy; these are high prices for gas and electricity for energy-intensive production, which is considered an aluminum plant, the state did not help the energy-intensive industry.

"The government itself contributed to the emergence of energy problems through liberal policies in the energy market," says Wildshut. "The fact that bankruptcy followed shortly after the payment was delayed is due to a lack of money. The company did not have enough working capital to keep afloat for some time. "

The plant itself stopped producing aluminum due to high energy prices, leaving 120 people "on the street."

By importing and processing aluminum, some of the employees continued to work, but in September production was completely stopped, and the remaining 200 employees were laid off.

Aldel hopes that the closure of the enterprise, temporarily and restart will save the company. Several employees remained to keep the plant running.

The court appointed Eric Ashuis of Trip Advocate as crisis manager. Now he is going to see if there are candidates who want to purchase the bankrupt plant. There have already been talks with several parties in recent weeks, but all have failed, Wildshut said.