Bitter bankruptcy in Salzburg: local supplier Michael Dreßler insolvent!

Bitter bankruptcy in Salzburg: local supplier Michael Dreßler insolvent!

Salzburg, Österreich - In Salzburg, "Michael Dreßler GmbH", a local supplier with an integrated petrol station, has announced today that the company is insolvent. The court in Salzburg has already opened bankruptcy proceedings, which has significant consequences for both employees and creditors. According to 5min.at are affected by a total of 11 employees, and 24 believers are involved in the procedure. The company's liabilities amount to 1.748 million euros.

The bankruptcy was found as a result of a failed sale and a expired account frame, i.e. a contractually agreed credit line. The "Michael Dreßler GmbH" not only offered mineral oil products and food, but also operated a car laundry and was active as a post partner.

background to bankruptcy

Insolvency means that a debtor cannot meet his payment obligations, whereby the goal of insolvency proceedings is a fair balance between over -indebted debtors and their creditors. These procedures are regulated by courts, which also applies to companies in Germany. In 2023, according to Statista in Germany, around 110,200 insolvencies, a decline of 31,000 compared to 2013. In the company bankruptcy, 17,814 corporate cases resulted in 59% of the cases largest proportion.

The bankruptcy is pessimistic because not only companies but also private individuals are affected by financial difficulties. In 2023 there were almost 67,000 private bankruptcies, which is an increase compared to the previous year.

effects on employees and creditors

The effects of this bankruptcy are serious. For the 11 employees of "Michael Dreßler GmbH", this means that their jobs are in danger. The 24 creditors also have to adapt to potential financial losses, according to the motto that the bankruptcy regulations provide for a regulated discussion with the insolvency administrator. While in such cases, part of the debts may often be paid from the remaining property of the company, it remains unclear how much can actually be repaid.

The fate of "Michael Dreßler GmbH" is another example in the alarming development of corporate bankruptcies in Germany and especially in Salzburg. Developments in the industry show that the markets are strongly influenced by external and internal factors. A too strict distribution policy or a missing clear business plan can quickly drive companies into bankruptcy, as shown in the case of Michael Dreßler.