Pisec Group: owe 100 million euros - bankruptcy in Vienna!

Pisec Group: owe 100 million euros - bankruptcy in Vienna!

Wien, Österreich - Pisec Group Austria GmbH today, on April 17, 2025, submitted an application for bankruptcy proceedings at the Vienna Commercial Court. The company, which works in import, export and trade in steel goods, is faced with liabilities of around 100 million euros. Of this, around 85.5 million euros are eliminated on banking liabilities. 18 employees and around 45 creditors are affected by the bankruptcy.

The Pisec Group was founded in 1950 and has since focused on the procurement of raw materials from the east with the subsequent sale in the west. According to its own statements, the company's continuation cannot be represented. However, the insolvency administrator examines whether parts of the company may be continued.

economic causes of bankruptcy

The bankruptcy of the Pisec Group is largely caused by the effects of the Ukraine War and the associated Global faults on the international raw material markets. The strongly declining demand, especially in the USA, and the establishment of storage capacities also contribute to the economic misery of the company. These developments are part of a larger trend that many companies experience in the steel industry.

The Russian war against Ukraine has considerable economic consequences that extend over different sectors. Rising prices for energy, food and consumer goods have burdened both industry and private households. Germany in particular is particularly affected because it rely on energy imports from Russia. This situation contributed to inflation and influenced the gross domestic product (GDP).

global market developments

The effects of inflation can be felt everywhere. Companies like the Pisec Group are not only faced with increasing costs, but also confronted with a decline in consumption and investments. These economic challenges are not isolated; They are part of a comprehensive problem that affects many trading companies worldwide. As part of this global crisis, the EU's energy imports from Russia also decreased significantly by stopping natural gas deliveries and the oil embargo.

In the past few months, companies have started to rethink their strategies to deal with these difficult market conditions. Despite the declines of international market prices for natural gas, from which consumers could not benefit, the uncertainty among companies remains high in terms of investments and future developments.

The bankruptcy of Pisec Group Austria GmbH is therefore not only an isolated event, but is in the context of a global economic crisis that has been reinforced by geopolitical conflicts and its economic consequences. The large number of actors concerned shows that numerous companies are in an existential crisis and have to fight for their future.

Further information on bankruptcy and current developments can be found on akv.at

The situation remains tense, and hope of stabilizing the markets and an improvement in the economic situation is articulated by many sides. As the Pisec Group shows, industry and trade are required to find innovative solutions in order to successfully pass in a rapidly changing economic environment.

Reporting on the situation of global economy and its influence on companies is essential in order to obtain a comprehensive picture of the current challenges. According to Tagesschau , the financial burdens from the Ukraine War are far from being remedied, and the economic developments are still being observed closely.