Gänswider Metal Technology was founded in 2007 – now the company had to apply for a renovation process with self -administrator. The reason is the economic challenges in the industrial industry. 37 employees and around 120 creditors are affected.
The Gänswider Metal Technology Company had to register bankruptcy on Wednesday. In recent years, loss of sales and price pressure and costs (wages, material, energy) have risen in industry. In addition, the reimbursement of COVID-related obligations (AWS loans), combined with outstanding payments by customers, has made the liquidity of the company enormous.
Styrics weakened
And so nothing led to the insolvency of the Söding farm, as the KSV1870 reports. The company is part of a variety of styric insolventions – especially the industry must struggle. So that you can achieve a possible continuation, you want to close unpredictable business areas and concentrate more on the economically sustainable steel, system, mechanical and aluminum construction. The internal structures must also be tightened and the fixed costs must also be optimized.
Hher debtberg
37 employees and around 120 creditors are affected. The debts amount to around 5.5 million euros – compared to this, about 3.25 million euros helped.
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.
