Insolving wave: Styrian timber construction company closes after bankruptcy!

Insolving wave: Styrian timber construction company closes after bankruptcy!

Gröbming, Österreich - A Styrian timber construction company, PR Holzbau GmbH, registered bankruptcy on Thursday at the Leoben Regional Court. This company based in Gröbming faces a financial disaster with debts of more than 2.21 million euros. The insolvency causes are diverse: the generally poor economic situation, a drastic decline in orders in the construction industry and the increasing financing costs have led to this dramatic situation. Despite the maintenance of surcharges for two construction projects, they finally had to be canceled what the company also brought into trouble. According to the bankruptcy application, it is not planned for the continuation of the company, which will strongly influence the future of the 11 employees concerned, such as OE24 .

Another sensational example of financial difficulties offers the entrepreneur Lars Windhorst. Once celebrated as a child prodigy of the German economy, Windhorst is now in the middle of a number of bankruptcy and legal investigations. The most recent bad news concerns his company Tennor International Services B.V., which registered bankruptcy on February 12th. This is just another setback in a long series of financial bankruptcies, which also include his luxury yacht yachts in Schleswig-Holstein, which registered bankruptcy in December. According to the Berliner Kurier investigates the public prosecutor's office for suspicion of bankruptcy. In this context, serious grievances were uncovered: wages were not paid, social security contributions were not paid and enforcement notices in the offices piled up.

The situation for Windhorst continues to come to a head. In view of an ongoing legal dispute with the Russian oligarch Gavril Yushvaev, the Windhorst owes 52 million euros plus interest for an investment in a failed medical robotics company, the entrepreneur is under further pressure. The large number of questionable business partners and deals that Windhorst made into the headlines does not make the situation easier. It remains to be seen whether he can free himself from this financial mess, while insolvency administrators are trying to save this from the ruins of his companies.