Surprisingly, the heating manufacturer Windhager has filed for bankruptcy at the regional court. The court is expected to open the proceedings on Monday. 400 jobs are at stake.
In a press release, the Seekirchen-based company announced that Windhager Logistik GmbH (AWL) would apply to open bankruptcy proceedings. Managing director Stefan Gubi justified the move with a huge drop in orders and high costs for a new factory. The Salzburg Regional Court will open insolvency proceedings on Monday.
In addition, the sister companies Windhager Zentralheiz Technik GmbH (AWP) and Windhager Zentralheiz GmbH (AWO) will each apply to LG Salzburg to open a non-self-management restructuring procedure. A total of 400 jobs are affected. The company only registered short-time working for 179 employees in July.
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.
