Manroland Sheetfed enters protective insolvency

Manroland Sheetfed, the German press manufacturer, has commenced formal restructuring under a 'protective shield' (Schutzschirmverfahren) insolvency procedure, a mechanism akin to the US Chapter 11, with the critical financial backing of its parent company, Langley Holdings. The move follows a significant strategic review initiated amid what Langley described as "unsustainable" and mounting losses at the subsidiary.

by Noel D'Cunha