Gunskirchner construction company BWM is broke

Bankruptcy proceedings were opened on the assets of the construction company BWM based in Gunskirchen (district Wels-Land), the credit protection association KSV1870 informed on Monday. The liabilities amount to around 1.36 million euros, a restructuring is not intended. The insolvency agreement provides for an early closure of the company. Eight ongoing construction sites can therefore no longer be completed.

The managing director, who has been running BWM since 2019, explains the company bankruptcy with poor calculations and the significant price increases in the construction industry. According to the debtor in the insolvency application, it was not possible to generate the calculated contribution margins and so the liabilities to suppliers accumulated and ultimately could no longer be satisfied. Eight employees and 60 creditors are affected by the bankruptcy.