The Korus Group, a French supplier of packaging and printing solutions, today announced the shut down of all operations for its coffret business.
Located in the South-East of France, Korus Coffret was employing 45 five permanent staff. According to the management, the decision is following the non-confirmation of series of orders that were scheduled to be produced from October 2008 to March 2009. Cancelled orders would amount to 1.3 million euros. Actually, Korus Coffret would have lost the confidence from certain strategic customers in the cosmetics and perfumes industry, when unexpected delays occurred for the production and delivery of coffrets for the Christmas holidays season.
The Korus Group runs two other businesses, printing activities (Korus Edition) and the production of folding boxes (Korus Packaging), which are not impacted by this decision.