Market collapsed

Puch stove manufacturer Haas + Sohn is insolvent

Haas + Sohn Ofentechnik GmbH in Puch near Hallein has been forced to file for insolvency due to the slump in the market for pellet stoves and wood-burning stoves.

The downturn in the market for pellet stoves and wood-burning stoves was already apparent at the beginning of 2024. Several factors contributed to this change. Many homeowners, particularly in rural areas, had switched their heating systems to wood and pellets due to the drastic rise in energy prices for gas, electricity and oil during the Covid-19 pandemic and the conflict in Ukraine. 

With liabilities of around 13 million euros, Haas + Sohn is now looking for a restructuring procedure without self-administration with the aim of continuing the company after restructuring.

The creditors, mainly banks, are being offered a 20 percent share. There are currently 38 employees at the Puch site.