Creditreform reported in a press release that 34 employees and around 150 creditors were affected. The assets therefore amount to around 10.7 million euros, and according to the application, the debt level is around 9.9 million euros. The company, which trades in foods such as nuts and dried fruits, will continue to operate. The causes of the insolvency lie in the development of interest rates on the capital market, the no longer possible additional payments in the amount required to create liquidity by the managing director or his co-partners and the burden in connection with the repayment of the loan, it was said.
According to its website, the company based in St. Pölten has been active since 2010 and was acquired by the current owners at the beginning of 2020.
Creditors are offered a quota of 30 percent, payable within two years. Ten percent should flow in cash upon approval of the restructuring plan proposal, and a further ten percent within 13 or 24 months after the restructuring plan becomes legal.
