Label and flexible packaging press manufacturer MPS has announced that several of its Dutch entities have filed for provisional suspension of payments (“surseance van betaling”) in the Netherlands. This step is intended to create the financial and operational space necessary to safeguard the company’s long-term continuity.
The filings were made on 23 October by MPS Holding B.V., MPS Systems B.V., MPS Service & Commissioning B.V., and MPS Supply Chain B.V.
An independent administrator (“bewindvoerder”) has been appointed by the court to oversee the process and support MPS management in assessing restructuring options. Together, they are working on a sustainable path forward for the company, its customers, employees, and partners.
Creditors with a claim without preference will not be paid for the time being as a result of the moratorium. This does not apply to the current obligations during the term of the suspension of payments, they should simply be paid. If this is not possible, the suspension of payments will have to be withdrawn. This is a point of constant attention.
Throughout this process, MPS operations continue without interruption where possible. All service, support, and commissioning activities are ongoing, and customers can continue to rely on MPS for the high level of quality and commitment they have come to expect.
“Our priority is to ensure business continuity and to protect the interests of our customers, partners, and employees,” said CEO Michiel Borst. “The meaning of the suspension of payments or breathing space is to provide us with time and flexibility to strengthen our financial foundation and secure a stable future for MPS. It is the administrator's estimate that the process will take a maximum of one month”
A FAQ list will be published on the MPS website within a couple of days.
Founded in 1996, MPS is a leading manufacturer of servo-driven narrow web printing and converting systems, offering solutions in flexo, offset, screen, gravure, and hybrid digital-flexo printing.
At the recent Labelexpo Europe, MPS showcased its “MPS Ecosystem” – a total-solution approach that combines technology, connectivity, and expertise to help converters optimize performance and efficiency.
With more than 800 installations across over 60 countries, MPS operates internationally with branches in the UK, Asia, and the USA.