The insolvent bottle cap manufacturer SpieKo has stabilised its business operations. According to the insolvency administrator, production at the Olbernhau site is secured until at least the end of 2026. The search for an investor is running in parallel.
SpieKo Flaschenverschlüsse can continue to process, produce and dispatch existing orders. This is based on the current earnings and liquidity planning as well as the support of customers, equipment financiers and the house bank. Insolvency proceedings relating to the assets of the company, which specialises in bottle closures, corks and turned wooden parts, were opened on 1 August 2026.
„All orders will be processed, produced and delivered as planned,“ says insolvency administrator Dr Dirk Herzig. Following the expiry of the insolvency benefit period, the wages and salaries of the ten employees are to be generated in full again from ongoing operations.
Customers are placing orders again
According to the insolvency administrator, adjusted financing installments for machinery contributed to the stabilization, amongst other things. In addition, the house bank agreed that materials and raw materials transferred by way of security could continue to be used for production.
There was also progress on the customer side. Several companies had placed orders with SpieKo again and signalled interest in further supplies. In future, the company is to step up direct deliveries to customers. According to the insolvency administrator, SpieKo had frequently acted as a subcontractor in the past. The end of such partnerships had contributed to the sharp drops in turnover.
Looking for an investor for SpieKo
The secured workload until the turn of the year is now intended to create time to search for a long-term continuation solution. According to Herzig, initial expressions of interest from potential investors have already been received. The process remains open to further interested parties.
„We have invested heavily in automation and the further development of manufacturing in recent years and meet all our customers“ requirements. This demonstrates the potential that SpieKo has with its specialisation in plastic and wood products. Especially in a shrinking market, innovation and automation are essential prerequisites for holding one's own in the competition. The positive development of recent weeks shows that SpieKo is known and valued by its customers and partners not only for the quality of its products, but also for the reliability of its work."
SpieKo owner Gunter Spiegelhauer
An investor or incorporation into an existing corporate group is necessary to continue production in the long term. SpieKo cites sharp drops in turnover and increased costs for raw materials, alongside a constant financial burden, as the causes of its financial difficulties.
SpieKo was founded in 1993 and produces bottle closures and plastic corks in various designs in Olbernhau, Saxony. The company manufactures both very small quantities and larger batch sizes.
Source: Schultze & Braun
