The next insolvency case in the Styrian construction sector: Baulöwen BaustoffhandelsgmbH, based in Kalsdorf, has filed an application to open a restructuring procedure without its own management. The debts amount to more than 7 million euros.
The crisis in the construction sector claims its next victim in Styria. Now Baulöwen BaustoffhandelsgmbH also had to file for bankruptcy. The company’s headquarters are located in Kalsdorf and there are also branches in Fehring, Premstätten and Deutschfeistritz – currently employing a total of 22 employees.
Behind the company are the brothers Alexander and Josef Pongratz, who also run the renowned construction company Pongratz Bau of the same name.
Continuation planned
The weak economic situation would be the reason for the bankruptcy of BaustoffhandelsgmbH. In addition, there was a bad debt of 1.6 million euros in the current financial year, AKV and KSV reported on Tuesday.
The liabilities are valued at 7.032 million euros, compared to the assets of 3.659 million euros. The insolvency filing at the Graz Regional Court refers to restructuring measures and the intention to continue the business.
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.
