Pulpac files for restructuring and issues layoff notices to 50 of 70 staff
Pulpac, the Swedish developer of dry-moulded fibre packaging technology, has filed for corporate restructuring at a district court, stating that it cannot pay its debts, according to Göteborgs-Posten. The company has issued layoff notices to 50 of its 70 employees, and Johan Sölveland has been appointed restructuring administrator. Pulpac attributes the filing to a slower-than-expected market shift towards fibre-based packaging.
Why this mattersThe insolvency of a leading dry-fibre-moulding technology developer signals that plastic-replacement innovators are struggling to convert development-stage promise into commercial revenue.
- Pulpac has filed for corporate restructuring at a Swedish district court, citing inability to pay its debts
- 50 of Pulpac's 70 employees have received layoff notices
- Pulpac reported 2024 revenue of just under USD 5.7m (SEK 56m) and a loss of USD 17m (SEK 168m)
- Johan Sölveland has been appointed restructuring administrator
- The company cites a slower-than-anticipated market transition to fibre-based packaging
- Pulpac's dry-moulded fibre technology targets replacement of single-use plastics in sectors such as fast food
Sources
pulpapernews.com