He had already informed his customers about the painful steps, but now it is in black and white: traditional butcher Max Riepl eU is bankrupt. A restructuring procedure has been opened for the company from Sarleinsbach (Upper Austria). The debt mountain is high.
“Unfortunately, my health situation and the general terms and conditions do not allow any other option,” Maximilian Riepl had already informed his customers and suppliers in recent days that there was no other option than to close the company and file for bankruptcy.
A fateful blow hit the entrepreneur from Sarleinsbach hard last autumn. His son did everything he could to save the butchery, restaurants and livestock trade, but the changing customer demand, increased costs and the need for investments made this a mission impossible.
17 employees, 166 creditors
Reorganization proceedings without self-government have now been initiated at the Linz Regional Court. According to Creditreform, assets amount to 3.043 million euros, compared to debts of 4.78 million euros. The bankruptcy affects 166 creditors and 17 employees.
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.
