Because KTM was unable to transfer the promised advances – as initially promised – it suddenly became impossible to pay wages for the 103 workers due on December 15. The result: Vöcklabrucker Metallgiesserei GmbH has filed for bankruptcy. The curator is now looking for a buyer for the company.
The bankruptcy of motorcycle manufacturer KTM will likely lead to bankruptcies of several companies in the Mattighofen group – so far Vöcklabrucker Metallgiesserei GmbH is the only known “victim” of the mega-bankruptcy at the leading company from the Innviertel.
On December 13, bankruptcy proceedings were opened for Vöcklabrucker Metallgiesserei GmbH, a 100 percent subsidiary of KTM Components GmbH, as workers’ wages could no longer be paid due to a lack of advance payments by KTM.
At the time of bankruptcy there were 134 employees
A shock for the 134 employees of VMG Metall, as the company is called. Since then it has been quiet around the company, which lists customers such as BMW, Oberaigner, Rosenbauer and Siemens on its homepage. According to Google, the company, which produces motorcycle swing arms, wheel hubs and gearbox housings, among other things, is already “permanently closed”; Even the apprenticeship program was ordered to close.
Now Welser Versicherungs-Treuhand Gesellschaft mbH, which is leading the bankruptcy proceedings as curator, is looking for a buyer for the company. VMG Metall is sold in its entirety.
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.
