On Thursday, a reorganization procedure without self-administration was opened at the regional court in Wels, as reported by the creditor protection associations AKV, Creditreform and KSV1870. The company, based in Oberndorf near Schwanenstadt, submitted its own application.
According to information from the creditor protectors, ten employees and between 40 and 60 creditors are affected by the insolvency. The debts are around 1.5 to 1.6 million euros. Around 25 people were employed during the season. The company works as master builder, roofer, master woodworker and plumber.
“In addition to losses in recent years, the reasons given for the slide into insolvency include the shortage of workers and the corona pandemic,” according to the AKV. KSV1870 reports that the causes of insolvency lie in the expansion of the building construction division, which failed due to the lack of skilled workers. The company acquired another company, Schmid Gesellschaft mbH, in 2017/18. Creditreform reports that there were “start-up difficulties”.
Christoph Doppelbauer was appointed as insolvency administrator by the insolvency trust company. The first meeting of creditors will take place on April 20th. A 20 percent quota is offered. The business remains open.
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