Paardekooper bankrupt after failed growth strategy

Packaging supplier Paardekooper has been declared bankrupt 22 August 2025, by the Rotterdam court. The company’s rapid expansion through acquisitions—often financed with borrowed money—ran aground. Internal sources point to flaws in the growth strategy. Interest rates on loans were tied to Euribor but were not fixed. When rates began to rise, the company’s financial position quickly deteriorated.

Integration of one of the acquired companies also proved difficult. Paardekooper faced high rental costs and owned few assets. Much of the real estate had been sold and leased back to finance acquisitions. According to sources, the management has been steering the company poorly for the past eighteen months, resulting in issues including procurement and inventory management.

Leonard Boender and Richard le Grand have been appointed as trustees. Packaging deliveries have been suspended for the time being. It is not yet clear whether a relaunch is being considered.

Source: Accountant.nl