The company has applied for bankruptcy proceedings at the regional court in Wiener Neustadt, as the credit protectors AKV, Creditreform and KSV1870 announced on Thursday. HR Group GesmbH operates 29 Reno branches in Austria with 106 employees.
According to the information, regarding 2,400 creditors with claims of around 12 million euros are affected by the insolvency proceedings. The company cited the effects of the corona pandemic and the associated drop in sales as reasons for the insolvency. The pandemic years were offset by government support measures. Discussions with investors ultimately failed.
The continuation of the company is currently being sought in order to hold further investor talks. A possible restructuring procedure depends on the outcome of these talks. Should they fail, the plan is to dissolve the company.
