Traditional company Trachten Kaiser in Wolfsberg is facing out!

Traditional company Trachten Kaiser in Wolfsberg is facing out!

Wolfsberg, Kärnten, Österreich - The traditional company "Trachten Kaiser" from Wolfsberg, Carinthia, is facing the economic end after more than 30 years. On June 3, an insolvency proceedings were officially initiated, a message announced by the Alpine Banker Association (AKV). The situation is extremely worrying for the five employees and 21 creditors, since the company's liabilities are charged at around 460,000 euros, while the business assets are estimated at around 250,000 euros.

The causes of bankruptcy are diverse. Malcalculations, the elimination of a second business location and falling sales revenues have led to massive economic difficulties. This situation was additionally tightened by the economic consequences of the Corona pandemic, which many companies did and also not spared "traditional emperors".

renovation plans and future prospects

Despite the serious situation, the owner plans to continue the company for the time being and to present a renovation plan. This stipulates that the creditors can receive 20 percent of their claims. Such a step could make negotiations with the creditors easier and possibly lead to a rescue of the company. It remains to be seen whether the planned measures are sufficient.

The bankruptcy proceedings themselves aim to create a fairer compensation between the over -indebted debtors and their creditors. In Germany, for example, there were around 110,200 bankruptcies in 2023, which represents a decline of 31,000 compared to 2013. The current situation of corporate insolvencies in Germany shows a health trend, but the numbers increase in some sectors, such as the service area.

As the bankruptcy of "traditional skills" shows, wrong decisions and external economic factors are often the causes of these developments. The Alpine Officer Association (AKV) will continue to observe the situation and initiate the necessary steps to accompany the procedure.

The fate of "Trachten Kaiser" is part of a larger trend that has affected many companies in recent years. The determination of the best renovation strategies remains a challenge in a constantly changing economic landscape.

For further information on the background of bankruptcy and the economic situation in Germany, you can get more about the situation on Kosmo , OE24 and Statista Experienced.