Insolvency of the energy service provider: 70 creditors affected!

Insolvency of the energy service provider: 70 creditors affected!

Insolvency proceedings were opened against ENcome Energy Performance GmbH at the Klagenfurt regional court. The company, which specializes in electrical installations, is struggling with liabilities of around 6.7 million euros, including almost 1.6 million euros from subordinated loans. Around 70 creditors and 35 employees are affected by this bankruptcy. According to the Alpine Creditors Association (AKV), the restructuring process aims to continue operations and establish a 20 percent restructuring plan. ENcome plans to restructure through mergers with subsidiaries and personnel optimization to overcome the challenges and save the company, which has been active since 2012. A sale process for a subsidiary in Australia has already been initiated, but has so far been unsuccessful, putting further pressure on the company's finances.

Financial difficulties at Signa

Another Signa Group company, Informationstechnologie GmbH, has also filed for bankruptcy, putting the group in serious trouble. A restructuring process without self-administration has now been opened in Vienna, affecting 49 employees and liabilities of 24.1 million euros. The credit protection associations KSV1870, AKV and Creditreform reported on the insolvency, which was triggered by liquidity bottlenecks and the failure of crucial interim financing for Signa-Holding GmbH, which was also insolvent. The company will continue to operate despite the critical situation, and the aim is to offer the affected creditors a 20 percent restructuring plan, with the first meeting to review the plan scheduled for February 2024, as the Tiroler Tageszeitung reports.