Now the traditional company with twelve employees had to announce the opening of a restructuring process without self-administration. The assets are estimated at EUR 95,000 and the liabilities at EUR 565,000. The bakery trade has long been under increasing pressure from competition in the discount segment. According to the KSV1870 credit protection association, there were still 5,120 businesses in Austria in 1965, but in 2013 there were only 1,583 bakeries.
The Altheim bakery Weinhäupl was managed positively for years. In recent years and during the Corona pandemic, however, a significant credit arrears have accumulated with a drop in sales and an increase in costs. The current development of energy costs brings further massive problems. It is planned to continue the company and to achieve a sustainable restructuring. “The insolvency administrator will examine whether a restructuring and continuation is possible without further losses for the creditors,” says Alexander Meinschad from KSV1870. The Altheim lawyer Franz Mitterbauer was appointed as the insolvency administrator.
Source: Nachrichten
