81 Creditors are affected by the coming bankruptcy of the West Styrian company Odist GmbH. A renovation seems unrealistic in a debt mountain of almost 2.5 million euros.
The Ostist GmbH, the automation and plant builders, had made a global name of bad gams. The focus of the West -Styrian company was on the modernization of older, existing systems to guarantee the competitiveness and productivity of its customers.
Difficulties with large customers
But the economically challenging location transfers its company. Moreover, an important large American customer has not made any promised payments. Further customer problems followed.
Given the perilous situation in which the company is located, continuation or renovation does not seem realistic, reports the KSV1870 Credit Protection Association. Seven employees and 81 creditors are affected – the obligations are approximately 2,465,000 euros.
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.
