Xiro Innenausbau GmbH has filed an application for restructuring proceedings without self-administration at the Linz Regional Court. This affects 27 employees; according to the Credit Protection Association, the number of creditors is currently unknown.
The Linz-based drywall construction company cites the general crisis in the construction and construction-related industries as the main cause of its insolvency. The payment behavior of some major clients has recently fallen steadily, and the company has often been confronted with exaggerated claims of defects. The aim is to restructure and continue the company with twelve employees.
According to company information, the liabilities amount to around 1.5 million euros; the number of assets is currently unknown. Creditors’ claims can now be registered via KSV1870, which represents the creditors, until May 28th.
