Insolvency drama in Großpetersdorf: Viticulture company before the end!

Insolvency drama in Großpetersdorf: Viticulture company before the end!

A dramatic insolvency proceedings at the Eisenstadt regional court opened for the "Schiefer & Domaines Kilger GmbH & Co. KG", reports the Alpine Voner Bankerverband (AKV). The winery based in Großpetersdorf employs eight people and faces massive financial difficulties. The bankruptcy is attributed to the devastating effects of the Corona crisis and the damage caused by flood disasters, which led to liabilities of around three million euros in 109 creditors. In comparison, the company's assets are estimated at just over 700,000 euros, which results in over -indebtedness of 2.3 million euros. The corporate management is already planning a closure, since a sustainable continuation is assessed as not realizable.

Financial imbalance and insolvency proceedings

The bankruptcy is a serious step for companies, especially for sole proprietorship such as Kilger GmbH. According to Schulz's article, sole proprietors are not obliged to submit an bankruptcy application as soon as they get into a financial emergency. However, difficulties due to impending insolvency or over -indebtedness open up the way to bankruptcy proceedings. The owner of a sole proprietorship can free themselves from their debts, which is now the case in the case of Schiefer & Domaines Kilger GmbH. Since sustainable company continuation no longer seems possible, the options for restructuring could also end.

The bankruptcy proceedings stipulate that a legally appointed insolvency administrator assumes responsibility and manages the existing assets. The creditors have the opportunity to assert their claims through the sale of assets by the insolvency administrator. This can lead to a liquidation of the company, but restructuring is also possible. In view of the recent situation at Kilger, it is now to be decided at the insolvency court, the next steps and the fates of the employees, while the company has already been in an unprecedented economic storm, such as debt counseling-schulz