Image: VOLKER WEIHBOLD
As the creditor protection association Creditreform reports, restructuring proceedings without self-administration were opened at the Wels regional court over the assets of Regent Pflugfabrik GmbH. The traditional Upper Austrian company has existed for around 90 years and develops, produces and sells agricultural technology for professional arable farming worldwide and currently employs 59 employees.
The company’s headquarters is in Attnang-Puchheim, and there is also a branch with employees in Germany. Production takes place exclusively at the company location in Attnang-Puchheim.
According to our own application, the corona crisis initially led to massive difficulties in production. However, there was a strong increase in the market and many new customer orders. This development was also favored by the public funding policy in the agricultural sector. This was accompanied by production backlogs and long delivery times.
Long-term capacity utilization increased, but at the same time production conditions deteriorated. Problems in the supply chains and personnel problems caused problems for the company. Furthermore, the Ukraine crisis and rising energy prices have further exacerbated the situation.
According to the company’s own application, assets amounting to around 1.76 million euros are offset by unsecured liabilities amounting to 4.09 million euros. The company will be continued and creditors will be offered a 20 percent restructuring plan quota – payable in two years.
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Source: Nachrichten
