Insolvency of the traditional company Wottle: Future uncertain!

Insolvency of the traditional company Wottle: Future uncertain!

Poysdorf, Österreich - In a dramatic turn, the traditional Anton Wottle Maschinen- und Weinpressenbau GmbH from Poysdorf has filed for bankruptcy. The company, founded in 1923, which is the only manufacturer of wine presses in Austria, has now applied for a renovation with self -administration. The process was opened on Wednesday through the Korneuburg regional court, as the website noe.orf.at reported. Around 30 employees are now facing uncertain times, while the company's liabilities are estimated at 3.89 million euros, of which around 1.4 million euros are secured.

The bankruptcy events are mainly due to declines of sales during corona pandemic and the continuing economic consequences of the Ukraine War. The company also feels the loads due to rising costs in the construction industry and industry. According to Nön.at, this case shows the current challenges in the agricultural technology industry and the tense location along the entire value chain, including viticulture and cellar technology. The creditor association has announced that the creditors should be offered a renovation plan with a repayment rate of 30 percent within two years. Despite the serious situation, there is hope that the company can be continued and successfully renovated.

The responsible Chamber of Agriculture in Lower Austria is also committed to the preservation of the company and hopes for a positive turn in this procedure, while the creditors are waiting for an early agreement and repayments. The owners who specialize in the production of pneumatic wine and fruit presses as well as abbey machines are faced with the challenge of freeing themselves from this difficult situation and maintaining traditional production in order to keep the Wottle brand and continue the more than 100-year history of the company.

Find out more about the backgrounds at noe.orf.at and nön.at.