Zortrax, once a leading name in the desktop 3D printing industry, has taken a significant step forward in its restructuring efforts by filing an application for approval of its restructuring arrangement with the District Court in Olsztyn on August 8, 2024. This move comes after the company secured the support of its largest contractors, who have voted in favor of the restructuring proposals, signaling a crucial step towards stabilizing Zortrax’s financial situation.
The restructuring plan, developed in collaboration with the arrangement supervisor, Paweł Głodek of Resist Law Firm, aims to balance the interests of Zortrax’s creditors with the company’s capacity to recover and grow. The plan is divided into three key groups of creditors: the public-law creditor, ZUS; small contractors in the company’s supply chain; and large contractors. Zortrax’s public-law creditor, ZUS, includes liabilities that will be repaid in full over 24 installments. Small contractors, creditors with claims under PLN 130,000 (approximately USD$33,000), will see their principal amounts repaid in full over 36 installments. For contractors with claims exceeding PLN 130,000, the restructuring plan involves converting approximately PLN 6.6 million (~USD$1.67 million) of liabilities into shares of Zortrax S.A., priced at PLN 0.10 (~USD$.03) per share.
“The profound changes that the company has undergone will result in a reduction in real estate rental costs by nearly 80% compared to the level at the beginning of 2023, wage and social security costs by approx. 70% and external services costs by nearly 50%. At the same time, Zortrax maintains the ability to develop software, develop new hardware, provide machines, parts, and materials for 3D printing, and provide technical support to existing and new customers,” said Mariusz Babula, CEO of Zortrax S.A.
These cost-saving measures are part of a broader strategy that includes outsourcing processes, restructuring the company’s financing structure, and increasing the share of direct sales in Zortrax’s revenue mix. These efforts aim to enhance profitability, enabling Zortrax to meet its debt obligations under the terms of the restructuring agreement.

The Zortrax M200 3D printer.
Polish 3D printing expert and 3DPrint.com contributor Pawel Slusarczyk pointed out that Zortrax has been falling for some time. The company originally became a success on the back of a claimed deal with computer pioneer Dell that never actually happened. Nevertheless, its M200 3D printer was extremely well-received by the global market. After it was exposed that the Dell never happened, one of its largest investors reportedly backed out ahead of an IPO, according to Slusarczyk, and Zortrax steadily fell.
While it continued business, releasing new machines and establishing high-profile customers, the financial toll of the economic downturn ultimately forced Zortrax into restructuring, announced earlier this year. To raise further funds, Slusarczyk said that “Zortrax will grant Roboze exclusive license to use [its Z-SUITE] software for generating instructions for 3D printers based on copyright Zortrax solutions… The license will be unlimited in time and territory, in exchange for EUR 170,000. The payment will be mixed: EUR 85,000 will be payable immediately after the contract is signed, and the remaining EUR 85,000 will be payable in six equal monthly parts after the conclusion of the contract.”
As Slusarczyk also noted, Zortrax’s recent financial reports reveal a stark decline in its performance. In Q1 2024, the company reported sales revenues of PLN 2.4 million (~EUR 0.558 million), a nearly 47% decrease from the previous year. This sharp decline in revenue, coupled with a net loss of PLN 4.1 million (~EUR 0.952 million), highlights the severity of the company’s financial difficulties. The dwindling cash reserves, standing at just PLN 36,559.19 (~EUR 8,500), further emphasize the precariousness of Zortrax’s situation.
It’s difficult to determine what would come of the company after it is able to repay its debts, but the restructuring suggests that there is a business to salvage. Perhaps the proximity to Ukraine and the significant role that 3D printing is playing in improvised warfare and general rebuilding efforts has something to do with it.
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