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Second largest book logistician has slipped into insolvency

Second largest book logistician has slipped into insolvency

The book wholesaler Medienlogistik Pichler-ÖBZ based in Wiener Neudorf in Lower Austria is insolvent. As the credit protection association KSV1870 announced, the company has applied for the opening of restructuring proceedings without self-administration. According to the creditor protectors from AKV, it is the second largest book logistics company in Austria.

Around 130 book publishers are looked after as wholesalers and around eight million books are delivered every year. The bankruptcy affects 44 employees and around 80 creditors. In addition to the book trade, customers also include schools and authorities.

Liabilities amount to 10.3 million euros, which would increase to 12.3 million euros in the event of liquidation. The insolvency administrator will have to check “whether the debtor’s restructuring efforts can actually be maintained,” said Jürgen Gebauer from KSV1870.

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Source: Nachrichten

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