It is the smallest business area of the company and it is currently the greatest care: since January 30, the division of the well -known rope manufacturer Teufelberger of Wels has been a renovation case for packaging tires. Now concrete figures came on the table for the first time. The mountain of debts grew strongly – to more than 13 million euros.
It all started with a hemp rope, later the trade in the house requirements was added, in 1917 the first wire rope was made-the company in Teufelberger can look back on more than 230 years of history. Darker Capital is currently doing in company history: with Teufelberger GmbH, in which the so-called Strapping solutions and therefore the packaging tires are native, is a business area of the family business since the end of January Insolvent.
“Have taken steps for some time”
In particular, the renovation procedure about society was opened on January 30, which was enormous due to falling prices and also weakened the demand. Overcapacity on the market exerted extra pressure on the prices. “It has been a development in recent years. We have taken steps here for some time to take this situation into account,” boss Florian Teufelberger revealed in January. Money from the group of companies was also shot. However, bankruptcy could not be prevented.
Day statutes at the Wels Regional Court
At the Wels Regional Court, the first cassalfather was now in the course of the status of research and reporting day. The obligations, which were still estimated at 8.3 million euros at the opening of the renovation process, climbed enormously. The recognized claims currently amount to 13.5 million euros, Renovation receiver Martin Stossier reported.
If there were no changes in the workforce of 186 members until the end, this should change something. The closure of the research and development area in the Packaging Tapes division was approved in court. The renovation plan must be voted on on 22 May.
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.
