Traditional company is fighting for survival: Insolvency proceedings open!

Traditional company is fighting for survival: Insolvency proceedings open!

Korneuburg, Österreich - A tragic day for the wine and beer lovers: the traditional company Wottle, known as Austria's only manufacturer of wine presses, and the Grieskirchen brewery have both applied for bankruptcy proceedings. According to the KSV1870, a renovation process with self -administration for Wottle was opened on Wednesday at the Korneuburg regional court. The company, established since 1923, has to struggle with sales declines as a result of the Corona crisis, the Ukraine War and the increasing costs in the construction industry and industry. A total of around 30 employees are affected, although the exact liabilities remain unclear. The renovation plan provides for the creditors to offer a repayment of 30 percent within two years from the assumption, such as Noen.at reported .

The location is also serious at the Grieskirchen brewery. On Monday, the company submitted an application to open a renovation process without self -administration after it has been in financial difficulties since 2020. Acta of 766,000 euros is compared to liabilities of around two million euros. 39 employees and 165 creditors are affected. The payment difficulties had already become public in early February, and wages had not been paid for since January. A drastic increase in electricity and gas costs as well as higher prices for packaging material and raw materials around 470,000 euros have also tightened the situation. For the creditors, a renovation plan is now offered with a repayment rate of 20 percent within two years, as The press reported .

Both cases also highlight the challenges of the domestic food industry, which suffers from the consequences of global crises. The loss of so renowned companies could harm the reputation and availability of regional products. The coming months will be decisive to see whether and how these companies can be saved.