Bankruptcy is known to cause financial damage for customers, suppliers and others, but the bankruptcy of a kitchen retailer in Upper Austria is quite bitter for those affected. After the audit meeting it is clear: the majority of the deposits have been lost.
“We are closed until there is clarity about the continued existence of the company. We thank you for your understanding,” said the note that was stuck in the glass door of the DAN kitchen studio on the business park in Ansfelden at the end of June. We couldn’t learn much more from MF Interieur GmbH. Concerned customers, some of whom had paid large sums of money for kitchens, were left without answers. Facilities have only been partially completed or not completed at all…
Telephones at consumer protection were red hot
While the consumer protection department of the Upper Austrian Labor Chamber counted calls from more than 60 potentially injured customers, kitchen manufacturer DAN terminated the contract with the studio and tried to find solutions for the missing facilities. A criminal investigation was eventually opened against the director. On August 28, bankruptcy proceedings were opened against MF Interieur GmbH, where concrete figures were presented for the first time on Tuesday.
Curator Christian Ebmer has so far recognized 4.116 million euros in claims, with more to come, it is said. There was little to be happy about for the creditors represented by the Credit Protection Association 1870 after the audit meeting at the Linz Regional Court: they should expect an interest rate in the low single digits range. This means: Most of the money deposited is lost. “Creditors should not hope too much for a high quota,” confirms Petra Wögerbauer of KSV 1870.
Expert must determine whether the bankruptcy has been delayed
The next steps in the process? Money must be earned through sales with the design of the store, including the showroom. Storage areas in Linz are closed. An expert is appointed to determine whether there has been a delay in the bankruptcy. There may still be opportunities to submit claims here.
Auction of inventory in the Innviertel
In the bankruptcy proceedings of Aichriedler Küchen GmbH, the former stores will soon be evacuated. On Thursday, October 31, the inventory of the locations in Waldzell and Mattighofen will be auctioned on the online platform aurena.at. A total of 178 items will go under the hammer – from kitchens to vacuum cleaner robots and food processors. The insolvency proceedings were opened on June 11 and the requested closure was approved by the Ried Regional Court on July 5.
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.
