All employees apparently laid off
After almost 200 years: piano maker is sold to China
Updated on December 25, 2024Reading time: 2 minutes
It was founded in 1835 – and is therefore considered one of the oldest piano makers in the world: the Grotrian-Steinweg company. However, the company is insolvent. A new plan calls for cutting all jobs in Braunschweig.
The renowned Braunschweig piano manufacturing company Grotrian-Steinweg, which looks back on a 189-year history, is facing a dramatic turnaround. As the NDR and the “Braunschweiger Zeitung” report, all 31 employees of the insolvent company have been terminated by the insolvency administrator.
The background to this is legal requirements in insolvency proceedings, according to which the claims of creditors must first be met. The insolvency administrator sees an opportunity to satisfy these claims in a purchase offer from the Parsons Group from Hong Kong. The group was already a shareholder in Grotrian-Steinweg until this year's bankruptcy in September; it joined the family business in 2015. However, according to the reports, the offer calls for the dismissal of all employees at the Braunschweig location.
There is speculation in Braunschweig that the Chinese group may be planning to continue using the traditional company's trademark rights by using cheaper materials in the future in order to increase returns. A social plan should be negotiated in discussions with the employees, writes the NDR.
Grotrian-Steinweg is considered one of the world's most respected piano makers and is particularly known for his hand-made concert grand pianos. The company, founded in 1835, has made a name for itself internationally. It supplied well-known musicians such as Clara Schumann, composer and wife of Robert Schumann, with its instruments.
The well-known US brand Steinway & Sons comes from the same family: It was founded by Heinrich Steinweg, who emigrated to the USA in 1851 and founded the company there in 1853 under the name Henry Steinway.
Previously, in 1835, Heinrich Steinweg had founded a piano maker in Wolfenbüttel, which his son Theodor continued. Friedrich Grotrian joined this piano maker in 1858 – which laid the foundation for today's company. Meanwhile, Steinway & Sons developed into a global company with numerous production facilities and registered patents.
