Because two large orders that were planned at the start of the year, among other things, were omitted, a glass company in Upper Austria slipped bankruptcy. According to the bankruptcy procedure, the obligations are 2.98 million euros and the continuation of the company is currently not planned.
Hayek MM GmbH submitted an application to the Regional Court in Steyr on Thursday to open a bankruptcy procedure. The affected company specializes in sales, planning and assembly of glass and portal constructions, the customers are predominantly commercial customers.
But how can it get that far? Since 2023, the construction sector has gone into a long -term crisis, in addition to the enormous inflation (construction and material costs), a sharp decrease in the order was in particular. It has been an attempt to prevent this, in addition to restructuring measures – for example due to personnel reduction – has increasingly been used for high -quality product solutions.
Money invested in know -how
It is increasingly invested in the training of staff and extra know -how. The elimination of two fixed planned large orders at the start of this year has all the planning. In the balance sheet, the obligations with a book value of 2.98 million euros are shown, corrected for the rights of handling and separation, provisions, etc. can be assumed from unsafe obligations with an order of around 1.93 million euros.
Ten affected employees
About 95 creditors and ten employees are affected by the bankruptcy. Due to the high liability state, the bankruptcy application was then without an alternative. According to current status, an operational continuation is not intended.
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.
