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CHV Container: Renovation plan takes effect! A traditional company is celebrating!
The restructuring plan of CHV Container Handels- und VermietungsgmbH provides for a 20 percent quota. A look at the challenges and successes.
CHV Container: Renovation plan takes effect! A traditional company is celebrating!
CHV Container Handels- und VermietungsgmbH, a traditional Viennese company, is fighting for its future. On December 20, 2024, the Credit Protection Association of 1870 informed about a new restructuring plan that provides for a quota of 20 percent within 24 months. The company's financial problems result from a standstill on a major order, which has severely affected the acquisition of new projects. Managing director Wolfgang Weinrich said that the company's resources were primarily focused on one major order, which led to an unexpected shortfall in orders, as ORF reported.
Recovery plan and progress
However, the problem is not new. Already in 2015, CHV was forced to initiate restructuring proceedings without self-administration at the Vienna Commercial Court. At that time, claims totaling 10.4 million euros were registered. During the course of the process, the company was able to convince many creditors to agree to a restructuring plan, which was approved in October 2015. This provided for a repayment of 20 percent in four installments, which were due in the following months. CHV is optimistic, reporting that the first two installments were paid on time and even expects to make a profit in 2017. As the KURIER explained, there are positive developments, including a major order abroad and a thriving rental business, which are giving the company a tailwind.
The company remains optimistic about the future. Weinrich emphasized that despite the challenges, the team was motivated and that there were already many new major orders in prospect. The restructuring seems to be well underway, which is remarkable given the difficulties, particularly the lost case against ÖBB in 2015. The climb out of financial misery could still be successful in these financial years, making CHV a company with a chance of stability, while repayments are progressing according to plan, according to the analysis by ORF and KURIER.