Teufelberger in Wels: Refurbishment plan secures 186 jobs!

Teufelberger in Wels: Refurbishment plan secures 186 jobs!

Wels, Österreich - Teufelberger GmbH, based in Wels, has successfully adopted a renovation plan, which was accepted by the creditors on May 22, 2025. The international manufacturer of ropes and strapping straps that has existed for 230 years can improve its financial situation after a renovation procedure without self -administration has been applied for at the beginning of the year. At that time, about 290 creditors were affected, and the company had debt of over 13 million euros.

The renovation plan stipulates that around 30 percent of the total of 30.2 million euros will be paid. When accepting the plan, the legally required head and sum majority was reached. The procedure is particularly important for Teufelberger Strapping Solutions GmbH because it is intended to support the preservation of the Wels location. As a result of the difficulties in the strapping area, which were caused by falling prices and weakening demand, the company had to cope with overcapacity, which exerted additional pressure on prices.

The challenges of the past

As part of the renovation process, it became clear that the company's liabilities rose from originally 8.3 million euros to 13.5 million euros. Floran Teufelberger, managing director, said that steps were taken before the application for bankruptcy was taken to improve the situation. Despite internal support from the group of companies, the bankruptcy could not be averted.

The 186 employees continued to work during the procedure, but the judicial approval of the research and development area in the packaging ligaments division, which increased the criticism of corporate management. However, the positive progress of the renovation plan offers hope of stabilization and future growth.

The key role of the renovation

Successful corporate renovation can be crucial in order to preserve payable companies from breaking up. The aim of these measures is to overcome the insolvency and make profits again. The process includes financial, organizational and business measures that require a comprehensive concept. As a rule, a renovation plan is created, which illuminates both the causes of the financial emergency and the necessary steps to improve.

But not only planning is crucial. Active implementation and continuous controlling of economic development are essential for the success of the renovation. In cases where the insolvency cannot be averted, insolvency proceedings are requested, and the assembly of creditors finally decides on the renovation or dissolution of the company. These aspects are also important for Teufelberg in order to be able to survive in the market.

With the acceptance of the renovation plan, Teufelberger GmbH not only gets a breath, but also shows that the path can be paved into a positive future through strategic measures and the support of all those involved. Further developments remain to be seen.

For more information about the topic of corporate renovation, visit Advocado or read the article by 5min and Krone .