The family-owned German manufacturer – the market leader in cutting equipment for printing, and packaging machines for pizzas– was badly impacted by supply chain delays for critical components that left it unable to deliver machines that were on order.

As a result Polar entered the process of restructuring under court protection in August. 

Polar Group said it was confident of being able to rehabilitate its three operating companies, and described discussions about the continuation of the business with its 380 employees and key stakeholders as encouraging.

Michael Wombacher, managing director of the Polar Group, commented: “Customers and suppliers also want to support the renovation. In our discussions they emphasised their interest in continuing the often decades-long cooperation. Above all the quality and durability of our machines, but also our services are very much appreciated.”

The business has a strong order book but the supply chain issues meant that machines that were nearly ready to ship could not be delivered to customers, because electronics sourced from Asia were not supplied on time. 

It had around 50 unfinished machines waiting to be completed. 

The Polar Group companies operate from a 50,000sqm facility in Hofheim, near Frankfurt.