KTM before decision: Refurbishment plan or bankruptcy threatens!

KTM before decision: Refurbishment plan or bankruptcy threatens!

KTM AG faces a decisive course in its financial future, because it is being worked on on a renovation plan that could turn out to be essential for the production restriction in March. According to a press report by Vol.at , the company needs 150 million euros to create the necessary liquidity. However, whether this plan will become a reality depends on the approval of the renovation plan at the court date on February 25. Among other things, the plan provides for a bar quota of 30 percent, which is to be paid out by the end of May. If the plan is rejected, there is a risk of bankruptcy, which could not only result in the closure of the production facilities, but also a drastic reduction in the repayment rate to only 14.9 percent.

The situation not only affects KTM AG itself, but also leads to other bankruptcies in the area of the company. Convey X is particularly affected, a personnel trainer whose bankruptcy is attributed to an intolerable cost structure of the previous management. Here 15 employees and 20 creditors are affected, with liabilities of over 400,000 euros, said orf.at . In a smaller ray of hope, the Wels family company Metteec Guss took over the previously insolvent Vöcklabrucker Metal foundry (VMG), whereby all existing 34 employees will also keep their jobs, and even 20 earlier employees are brought back.

critical dates are approaching

In addition to the important data for the KTM Group, there is another significant date for the parent company Pierer Industry, which is also located in a European renovation process. The creditors vote in the regional court of Wels on the renovation plan, which includes the extension of due bonds and debts. The coming weeks are therefore crucial for the future of these companies and their employees.