Amstetten: Band aging Gattringer secures his future with a renovation plan

Amstetten: Band aging Gattringer secures his future with a renovation plan

In Amstetten, a renovation process for bandagist Gattringer GmbH was initiated, which started at the end of July 2023. Now the decision of the State Court of Sankt Pölten is available: the creditors have agreed to their renovation plan, which is crucial for the continued existence of the orthopedic company. The report by Stephan Mazal of Creditreform emphasizes how important this step is for the future of the company.

The company, which specializes in healing and aids in the area of orthopedic technology, is faced with considerable financial challenges. Around 160 creditors have registered obligations of a total of 2.5 million euros. As part of the renovation plan, these creditors receive a repayment of 22 percent. Of these, 6 percent will initially be paid out in cash by December 15, 2024. The remaining payments should be financed from the income of the continued company within two years.

reasons for bankruptcy

One of the main causes for bankruptcy was the company's aggressive expansion strategy, which was largely financed by loans. This strategy, coupled with increasing fixed costs and general price increases, presented the company with massive financial challenges.

In the course of the renovation process, numerous adjustments had to be made to ensure the company's ability to survive. Four from the original nine branches had to be closed in St. Pölten, Steyr, Wieselburg and Purgstall. "The reduction to five locations made it possible to secure the economic future of the orthopedic technician in the long term," explains Stephan Mazal. This also shows the need to adapt to the changed market conditions.

remaining locations and personnel reduction

The renovation has decreased by the number of employees from 48 to 37. Despite these challenges, the following branches remain: Amstetten, Waidhofen on the Ybbs, Scheibbs, Vienna favorites and Vienna-Meidling. The decision to reduce the locations and for personnel reduction was not easy, but it was necessary to strengthen the economic basis of the company and to receive jobs.

Overall, the renovation process has contributed to creating a clear perspective for the future of Bandagist Gattringer GmbH. Information on this topic is detailed to read here .