Electrical company from Lower Austria again insolvent: 20 employees affected!

Electrical company from Lower Austria again insolvent: 20 employees affected!

St. Pölten, Österreich - The Peter Pfaffeder GmbH, a traditional electrical installation company from Lower Austria, is again insolvent. On June 13, 2025, a renovation procedure without self -administration was opened at the St. Pölten regional court. 20 employees are affected by the bankruptcy who are now waiting for their outstanding wages, while wages have already been paid out by April this year. In May and June, however, salaries are still pending, as are the vacation money. Affected employees fear for their financial future, while corporate management has to recognize the seriousness of the situation.

The company was founded in 1988 and went through a renovation process in 2024. This included a renovation plan that provided a repayment rate of 20 percent within two years. However, this quota could not be observed, which ultimately led to the current bankruptcy situation. The main reasons for the renewed insolvency are the withdrawal of an investor and due invoices, which resulted in an unfinancability of the renovation plan. The liabilities of Peter Pfaffeder GmbH amount to around 4.4 million euros, while the assets are estimated at just around 348,000 euros. At least 72 creditors are affected and claims can now be registered.

Review of corporate insolvencies

The bankruptcy of Peter Pfaffeder GmbH is not only an individual tragedy, but also joins a sad trend. In 2024, a total of 21,812 companies registered bankruptcy in Germany, which represents an increase of around 4,000 cases compared to the previous year. According to ifm bonn the number of bankruptcies has increased by 22.4 percent. This increase is attributed to persistent crises and economic uncertainties that many companies bring in a difficult situation.

The data show that the number of insolvency has increased, especially among companies that have been on the market for at least 3 or 8 years. The number of bankruptcies each has increased to 7. Despite these alarming numbers, bankruptcies are a rare form of corporate closure overall, which only make up about 6 percent of all closures. If you also look at the bankruptcies of former self -employed people, this proportion doubles significantly.

The situation around Peter Pfaffeder GmbH illustrates the challenges that many companies face in the current economic situation. While a renovation plan is in prospect, it remains uncertain whether it can be implemented successfully. The coming months will be decisive for the future of the company and its employees.