Nothing was used. Last year the window producer IPM Schober from Thalheim slid near Wels (Upper Austria) bankrupt. A renovation of the company that has been around for four generations must be done. But that didn’t work. Now the end threatens.
The falling capacity use of the construction sector, rising costs, increased competition by providers from Poland and Southeastern Europe – the IPM Schober Fenster Gesellschaft MBH in 2024 as reasons for stump.
Optimistic plan
The creditors were offered in the renovation plan, which provides a quota of 20 percent. The company must be continued, the quota must be generated from the continuation.
The first five percent must be transferred to creditors within two weeks of acceptance of the renovation plan, the next five percent within a year, after 24 months the remaining 20 percent.
Just a partial payment
But the plan did not work, as the Credit Protection Association announced in 1870 on Tuesday. “The second partial quota of 5 percent is said to owe in July 2025. This could no longer be achieved,” the KSV said in a broadcast.
43 affected employees
Because the construction sector did not recover as accepted. The June Tales could no longer be paid. “According to the insolvency application, the company is planned,” reports Petra Wögerbauer of KSV1870. 43 employees and 80 creditors are affected. The assets are around 830,000 euros, the obligations of around seven million 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.
