Immediately after Easter, the bankruptcy wave in the upper Austria continues. With the Happy-Maler facades, a traditional company from Linz slipped into bankruptcy. The debt amount is approximately 3.1 million euros. Tractor? Not only the more difficult framework conditions.
“Color makes you happy”, is the motto at Happy-Maler facades ges. Mber 31 years ago, the company was founded, but now this society is confronted with the end. On Tuesday, the representative of the debtor Peter Shamiyeh applied for the opening of insolvency procedures.
According to credit forms, the liabilities of 3.1 million euros are compared with around 233,500 euros, around 100 creditors and 25 employees are affected – all this is in the bankruptcy application that Shamiyeh had brought in to the Regional Court in Linz.
Judicial investigation with the client of a large project
The environment founded for the company in 1994 has become increasingly difficult in recent years, reports Shamiyeh. Material and personnel costs rose, but could only be partially passed on to customers. At the same time, the number of orders decreased because the new building got stuck. If all this was not difficult enough, they would have had a judicial discussion with the client of a large project that eventually moved the bladder.
ShamiyeH emphasizes that the initiation of the insolvency procedures on the assets of happy-more people has no influence on Happy.Maler GmbH. The latter is completely independent economically.
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.
