As the Credit Protection Association of 1870 and the Alpine Creditors Association report, a restructuring procedure with self-administration was applied for for ATG Agrartechnikgeräte GmbH in Hörsching. The reasons for the insolvency are cited in the insolvency application as, among other things, the high inventory levels. For fear of delivery bottlenecks, purchases were expensive and in some cases loans had to be taken out.
Demand collapsed
During the same period, however, demand collapsed and sales fell significantly due to the drop in prices. In addition, there would have been excessive personnel costs in the sales area. Ultimately, the house bank called the loans due. The company was also temporarily without management because the former managing director died at the end of September 2023.
23 creditors are affected by the insolvency, the liabilities are said to be around 2.9 million euros. The aim is to restructure: If the creditors agree, they should initially receive 30 percent (ten percent of which within four weeks) and gradually within twelve and 24 months additional shares of their outstanding claims.
