Highcon Files for Bankruptcy

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Highcon Systems, an Israeli digital cutting and creasing solutions provider, has filed for bankruptcy protection under Chapter 10 insolvency law, citing severe cash flow issues triggered by $10m (£7.72m) in postponed orders, geopolitical instability from the Israel-Hamas conflict, and looming US tariffs. Despite a successful 2023 restructuring and a strong post-Drupa 2024 order pipeline, the company has laid off 50 employees, retaining only 20 staff to sustain operations. Highcon’s shares plummeted 78% to NIS5.5, slashing its market cap to NIS2.42m (£508k). Major investors include Benny Landa’s Landa Ventures. Known for its Euclid and Beam series machines, Highcon serves UK clients like Linney and Durham Box, but faces an uncertain future amid global trade tensions and eroded customer confidence.