Continuation planned

Machine dealer in Innviertel goes bankrupt for millions

Another bankruptcy worth millions in Upper Austria (symbolic image)

(Bild: DOC RABE Media - stock.adobe.com)

As a result of the insolvency of the Primatech companies, Inntech Handels- und Produktions GmbH is now also bankrupt. The liabilities amount to over one million euros. The restructuring is to be financed by the continuation of the redimensioned company, if this is possible without further losses.

Inntech Handels- und Produktions GmbH in St. Martin im Innkreis is insolvent. On Wednesday, restructuring proceedings without self-administration were opened at the regional court in Ried. Eight creditors are affected, with liabilities amounting to around EUR 1.11 million. According to KSV1870, no assets are known, the credit protection association reported on Wednesday. Employees are not affected.

Due to Primatech insolvency
The insolvency of the machinery dealer, which was founded in 2001, is due to receivables from and liabilities for the insolvent Primatech companies, for which restructuring proceedings without self-administration were opened at Ried Regional Court in November 2023. Primatech, which primarily produces bio-heating boilers, cited the collapse of the German market for bio-heating boilers as the reason for its insolvency.

Continuation planned
The creditors of Inntech GmbH are being offered a restructuring plan of 20 percent, payable within two years of acceptance. Financing is to be achieved through the continuation of the redimensioned company. "The insolvency administration will examine whether the company can be continued without further losses for the creditors," said Alexander Meinschad from KSV1870, which represents the creditors.