107 employees

Pongau timber merchant goes bankrupt with millions

With debts of around 15 million euros, Weiss GmbH from Flachau slipped into bankruptcy. The family business from Pongau last employed 107 people. Efforts are being made to continue the business.

Around 15 million euros in outstanding debts and 360 creditors have forced Weiss GmbH from Flachau into bankruptcy. A restructuring procedure without self-administration is currently being sought. The creditors have been offered to pay a 20 percent quota within two years. 

The family business has been processing and selling wood since 1965. Over the decades, the company has grown from a small two-man operation to several production and sales locations throughout Austria.

The company cited the Russia-Ukraine conflict and its consequences as the reason for its insolvency, as well as the overall economic situation and the difficulty of obtaining loans for private house builders. 

The insolvency also affects the company's 107 employees. Efforts are being made to continue the company.