The strong drive for circularity, timber construction and the recent boom in small houses fuelled the company and the hopes of Leidorf GmbH from Altheim (Upper Austria). Recently, however, the company has been struggling with increasingly serious economic problems. The result: insolvency proceedings were opened.
“The company’s mission is to develop and implement high-quality, sustainable and energy-efficient timber construction solutions,” reads the website of Leidor GmbH, based in Altheim, which has now started a renovation process.
There are said to be debts of 6 million euros from some 80 creditors. In contrast, there are assets of some 4.7 million euros, reports the Alpine Creditors Association.
Leidor GmbH was founded in 2015. The company is engaged in carpentry and CNC machining, mainly processing large-format wood materials. The basis is a modern robotic CNC system that has been developed.
What are the reasons for bankruptcy? The termination of the bank’s current account agreement and the resulting delayed purchase of cross-laminated timber were mentioned here, which in turn delayed deliveries and led to fines. The high repayment and interest charges for investments also made the situation more difficult. The creditors are offered a quota of 20 percent in the restructuring plan.
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.
