Since 30 December 2022, Swiss packaging manufacturer Nyco Flexible Packaging (Kirchberg; www.nyco.ch) has been under provisional debt-restructuring moratorium under the Swiss law. In a debt-restructuring moratorium, the company has four months to examine and initiate restructuring options together with an appointed administrator. Operations are to continue in the meantime.

The regional court of Emmental-Oberaargau has appointed Fritz Rothenbühler from law firm Wenger Plattner (Bern, Switzerland; www.wenger-plattner.ch) as the administrator. The business in Kirchberg with its 160 employees will continue unchanged, and talks are being held with interested parties. According to Swiss media reports, Nyco’s management does not plan any job cuts at this time.

Nyco has belonged to Germany-based investment company Fair Cap since February 2022, which is when it acquired the company from Clondalkin (Utrecht, the Netherlands; www.clondalkingroup.com – see Plasteurope.com of 17.02.2022). The Swiss company specialises in painting and coating of plastic and aluminium foils and the production of blanks, blisters, shrink sleeves, and foil reels for applications in the food, beverage, household, personal care, and healthcare industries. Turnover is reported by Fair Cap at EUR 45 mn.

As Jasper Delekat, managing partner of Fair Cap, explained when asked by Plasteurope.com, Nyco was already “in a loss-making situation” at the time of the takeover. The pandemic, supply chain problems, and the energy crisis had put additional strain on the company during 2022 and led to “further significant operating losses”. In addition, the roof of a hall at the company collapsed after a storm in August 2022. “The restructuring measures that have been introduced will only take effect from this year onwards,” said Delekat.