KTM bankruptcy: Employees are desperately waiting for their salary before Christmas!

KTM bankruptcy: Employees are desperately waiting for their salary before Christmas!

The crisis at KTM, the largest motorcycle manufacturer in Europe, is heading up: from mid-January, affected employees, both from Austria and from Germany, should finally receive payments from the insolvency fee fund. According to Richard Fuchsbichler, Managing Director of IEF, the payment for around 3,500 employees will be made due to the bankruptcy of KTM for their November and December wages. Those concerned only have to submit an application to the IEF website to assert their claims, such as The Bavarian Radio reported .

self -administration ensures continuation of the business

In a first assembly of creditors, it was also announced that KTM AG and its subsidiaries will be continued on their own administration. This decision, which the shares of the parent company Pierer Mobility also increased, was made as part of the insolvency proceedings. The renovation recent Peter Vogl considered this necessary to protect the interests of the creditors. The company's liquidity is currently being sufficient until the next examination in January. A payment should also be secured for the wages of the employees in December, as from the reports of the Kleine Zeitung .

Despite the positive aspects in the renovation process, there is hardly any relaxation for the approximately 1,000 Bavarian employees who are affected by the bankruptcy. The majority of them have not received a salary since November, which is particularly oppressive in the run -up to Christmas. The employees of KTM Components GmbH are also affected because the production for checking and adapting operating costs is currently still. Experts estimate that the negotiations to stabilize the KTM group will continue until the end of February, with a return to normal for employees.