Insolvency of Scio Holding GmbH: Shock for 60 creditors and employees

Insolvency of Scio Holding GmbH: Shock for 60 creditors and employees

linz. Today, on November 27, a bankruptcy proceedings against Scio Holding GmbH opened at the Linz regional court. This company, which was founded in 2014 and is based at Franzosenhausweg 51 in Linz, specializes in flexible electronics and serves the automotive, aerospace and healthcare industry in particular. One could say that Scio Holding was an important player in the area of modern electronics solutions, but the current situation indicates considerable difficulties.

The event for the bankruptcy proceedings are numerous economic problems that have emerged in the past few months. A particularly serious factor is the decline in the automotive market, which is considered a main cause of the company's financial difficulties. In addition, Gerhardi Kunststofftechnik GmbH, an important major customer of Scio, is involved in bankruptcy proceedings. This relationship has also strengthened the pressure on the Scio Holding. A general decline in orders and sales also led to a critical situation.

Details on bankruptcy

The effects of bankruptcy are dramatic. A total of around 60 creditors and twelve employees are affected, which makes the situation particularly precarious. The financial figures speak for themselves: the company's assets amount to 464,906.03 euros, while the liabilities reach an alarming amount of EUR 2,809,830.94. This results in a calculated over -indebtedness of 2,344,924.91 euros that the company brings into a hopeless situation.