The Graz company N. Wilfling Reklamebau has filed for bankruptcy proceedings and is expected to close before Christmas. 17 employees are affected. The debts amount to approximately half a million euros. The main reason is a lack of lucrative orders.
The economic situation of the Graz sign and advertising manufacturer N. Wilfling, part of the Obad Group, had already deteriorated in 2017. After a restructuring process, the company was continued. Now the N. Wilfling company is finally on the brink of extinction.
Hardly any new orders
As the Alpine Creditors Association (AKV) reports, the company has filed for bankruptcy proceedings. It lasts for a short time and closes on December 22nd. According to AKV, 17 employees are affected and the debts amount to approximately 543,500 euros.
The company, founded in 1991, has been growing for years with various advertising items such as neon advertising and digital prints. After the crisis in 2017, the company, as mentioned at the beginning, is now faced with a very bad order situation that makes it impossible to cover costs. The main reasons given are general market developments, the war in Ukraine and high inflation.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
