Risk of insolvency: Voere precision technology is fighting for survival!

Risk of insolvency: Voere precision technology is fighting for survival!

Untere Sparchen 56, 6330 Kufstein, Österreich - The Voere Precisionstechnik GmbH today submitted bankruptcy application to the Innsbruck Regional Court on December 17, 2024, which indicates a serious financial crisis. The company, which emerged from the traditional Voere Holding GmbH and is based in Kufstein, currently employs 65 highly qualified employees. Despite an export quota of around 60 percent and an active commitment in semiconductor production, mechanical engineering and medical technology, the company had to record significant declines due to a sudden slump in the semiconductor market in Asia, as the Alpine Banker Association reported.

The liabilities of the Voere amount to around 5.3 million euros. The company has also burdened a legal dispute in Germany and increasing wage and personnel costs. Despite trying to change production accordingly, the company could not overcome its financial difficulties. According to the Credit Protection Association of 1870 (KSV1870), a lack of extended lines of credit on the part of the banks has led to insolvency. The management has already signaled in the application for opening the bankruptcy that the closure of the company may be inevitable, which increases the concerns of the creditors regarding a possible company renovation.

future steps after the bankruptcy declaration

The court is now expected to open insolvency proceedings, and the insolvency administrator to be appointed will decide whether the company continues without further disadvantages for the creditors. Demands can now be registered with the AKV, which shows that the situation is already urgent for the creditors. The development of this bankruptcy is particularly challenging due to the long -term tradition and importance of the company in the region, as tirol.orf reported.

In addition, the structural problems of the company have led to this dramatic situation, including the challenges in the international market and in personnel management, such as akv.at . The outcome of the bankruptcy proceedings will be crucial for whether the company receives a chance of renovation or whether the company may have to be closed permanently.