Insolvency shock for happy painting: company goes down because of a lawsuit!

Insolvency shock for happy painting: company goes down because of a lawsuit!

Gmunden, Österreich - The happy-painting facades Ges.m.b.H. Make bankruptcy today, which is a dramatic step in the company's history. The bankruptcy proceedings were opened at the Linz Regional Court and was initiated at the debtor's own request. The company, which specializes in interior painting, interior painting, coatings and thermal insulation composite systems, is faced with considerable financial difficulties.

The causes of bankruptcy are diverse. The company has heavily burdened price increases in material costs in the post-Covid crisis and as a result of the Ukraine secretary. Due to existing fixed price contracts, however, Happy painters were not possible to pass on the increased costs to customers. In addition, inflation -related wage increases led to increased personnel costs. The real estate crisis also reduced the order volume due to a declining construction activity.

financial problems and lawsuit

A complaint by a client due to buildings further tightened the situation and led to financial bottlenecks. This lawsuit was submitted at the end of February 2025 and demands compensation for construction defects in a residential construction project in Gmunden. Although the company was initially able to compensate for losses from a winning presentation from 2021/22, considerable payment delays by clients led to a critical situation.

The company is currently insolvent and over -indebted. The liabilities amount to around 3.1 million euros, spread over 90 creditors, while the assets are only around 235,000 euros. The loss of 25 jobs is a direct consequence of this bankruptcy, and the continuation of the entrepreneurial activity is not sought. In the opening application, the company was already agreed.

insolvency statistics and the economic context

The situation at Happy painters is part of a larger trend in the industry. The insolvency statistics show a persistent problem in the construction and craft sector, which was reinforced by external factors such as the infection crisis and geopolitical tensions. These circumstances have led to many companies that rely on orders in these areas under pressure. Further details on the current bankruptcy situation in Austria can be read in transport and insolvency statistics href = "https://www.creditreeform.at/fileadmin/user_upload/central_files/img/startsite/ActuLesundwissen/wirtschaftsforschung/2024/insolvenzStatistik_2024.pdf"> creditreeform.at