Popcorn start-up files for insolvency

The Berlin-based start-up Wildcorn is apparently sliding into bankruptcy. The reason for this is the increased food prices due to the Ukraine war.

Popcorn producer Wildcorn apparently had to file for insolvency, as the WirtschaftsWoche reports. The founders Rejne Rittel, Max Lion Scherer and Tobias Enge have been offering popcorn in unusual flavors since 2016. According to their own statements, made from natural ingredients and without sugar. So far, supermarkets such as Aldi, DM, Rewe, Edeka and Metro stores have sold the products. Now the management is said to have filed for insolvency.

According to Wirtschaftswoche, the reason for this is the increased food prices due to the Ukraine war. "In particular, the cost of sunflower oil, which is used in the production of popcorn, has increased massively in recent months," provisional insolvency administrator Jesko Stark, a partner at law firm GT Restructuring, is quoted as saying in the WirtschaftsWoche quoted. He said the cost of sunflower oil has increased due to expected shortfalls in Ukrainian production.

Wildcorn was apparently not able to push through price increases with retailers. Negotiations with an important retail chain had failed. As a result, the management filed for insolvency. According to the insolvency administrator, the task now is to find a buyer or investor for the company.