Cartrec, Netherlands Leading Toner Cartridge Remanufacturer, Shuts Down

Cartrec, a toner cartridge remanufacturer based in the Netherlands, shut its business down after a 26-year history. The company said they have no choice but to follow Deutsche Bank’s exit from the Netherlands’ SMB (small-to-medium size business) sector.

Founder and Owner of Cartrec, Mr. Jan Luijks, noted that Cartrec is one of the 18,000 SMBs in the Netherlands which were shed by Deutsche Bank and it is hard for the company to find another bank to offer working capital. Also, Luijks said the company has struggled to lower costs and restructure the business, but it was hard to move forward. Further, Luijks claims the business of Cartrec has been taken over by the Cartridge Factory B.V.

Back in September 2012, Deutsche Bank announced it was projecting a restructuring plan. In April 2013, the Bank announced it was shedding around 18,000 SMBs, which represent about 75% of its client base in the Netherlands.