According to KSV1870, 13 employees and 100 creditors are affected by the insolvency. According to this information, the sole proprietor Anton Bauer, Anton Bauer GmbH and B&W Fine Wine Exports GmbH are behind the free name Weingut Anton Bauer. “All three companies have stopped their payments,” reported the KSV. The St. Pölten Regional Court approved the bankruptcy applications and opened the proceedings on Wednesday.
The sole proprietor Anton Bauer runs a wine-growing business and sells the harvested grapes to Anton Bauer GmbH, which in turn produces and trades the wine. B&W Fine Wine Exports GmbH handles exports to the USA. Anton Bauer’s liabilities were valued at 2.8 million euros, those of Anton Bauer GmbH at 1.95 million euros and those of B&W Fine Wine Exports GmbH at 0.7 million euros.
According to Creditreform, the sole proprietorship Anton Bauer owns almost 13 hectares of land and has a further 40 hectares of leased land. Successful implementation of a restructuring plan is difficult to demonstrate. The first creditors’ meeting, report and audit meeting is scheduled for August 27.
“Consumer behavior has changed significantly”
“The company cites the major change in consumer behavior since the Covid-19 pandemic as the main reason for insolvency. In addition, the market is oversaturated with quality wines, such as those produced by the Anton Bauer winery, so that there is currently 30 percent more wine stock than can be sold,” the credit protection association said. Since the search for investors was ultimately unsuccessful, bankruptcy applications had to be filed.
According to KSV, the future of the Anton Bauer winery is still completely open. In any case, the intention is to continue the business at least for a limited period of time in order to maintain wine sales.
This article was last updated on July 10, 2024 at 1:05 p.m.
