The bankruptcy wave in Upper Austria is not tearing – and again it affects a family business with a lot of tradition. A renovation process was opened on Monday via the Saggeder Fenster- und Türenwerk GmbH from Natternbach. The mountain of debts is more than eight million euros.
“Competence, experience and courage for new ones are the pillars on which we stand,” says the Srager window and door plant of Naturternbach on its website. Since 1921, the family business, which is now trying to get a reorganization.
Losses in millions in 2023 and 2024
On Monday, a renovation procedure without self-administration was opened via the Saggener Fenster- und Türenwerk GmbH on Monday, reports the Austrian Association of Creditreform. In recent years, losses have been given as the cause of the bankruptcy: 1.5 million euros was 1.49 million euros in 2023 and last year. The renovation application had now taken place on the advice of external consultants.
What is the following? According to credit form, the company, in which 57 employees are currently employed, must be continued. A positively surviving prediction is clearly available. 120 creditors are affected by the bankruptcy, the amount of the obligations is around 8.88 million euros. Assets, on the other hand, are available for book values of 5.93 million euros. In the renovation plan, the creditors are offered a quota of 20 percent.
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.
