German paper napkin manufacturer Fasana, established in 1919, has filed for insolvency following a major cyberattack.
On May 19th, all the printers at the facility began printing ransom notes. All systems, including PCs and laptops, were paralyzed. Fasana could not execute orders of over €250,000 on May 20th alone, according to a report by Kölner Stadt-Anzeiger, a daily newspaper published in Cologne.
Production has been halted entirely, employees did not receive their May salaries on time, and massive revenue losses, accumulating to €2 million over two weeks, have pushed the company overboard. It has filed for insolvency. The company, which was acquired by Powerparc in March, is now looking for another buyer.
The insolvency administrator, Dr. Dirk Wegener, noted that they couldn’t even print a delivery note, and the business operations were completely paralyzed.
Fasana is a paper napkin factory located in Stotzheim, Germany. It employs 240 workers.
A report by WDR clarifies that Fasana has suffered a ransomware attack by a group known to police, and the malware has spread very rapidly, locking computers and encrypting files.
No publicly tracked ransomware gang has claimed responsibility for the attack. The hackers expressed financial motives, but it remains unclear how they may have gained access to the systems.
The company has now been able to resume operations, starting the first deliveries last week and issuing invoices again.
According to Golem, the napkin manufacturer has eight weeks to find a potential buyer. However, market conditions are difficult due to rising raw material costs and upcoming summer holidays.
Local authorities, including Euskirchen, have also experienced cyberattacks, highlighting a broader trend in the region.
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