61 employees in the company

Salzburger Erdbau GmbH files for insolvency

Salzburger Erdbau GmbH from Anthering has applied to the regional court to open bankruptcy proceedings, as announced by the Alpenländische Kreditverband. The company, which has debts amounting to 3.9 million euros, has been in business for over 60 years. The company currently has 61 employees.

The company has been unable to find an investor. The managing director has agreed to the closure of the company and has registered the employees with the AMS for dismissal. Bankruptcy proceedings are to be opened on the same day.

Erdbau GmbH, based in Anthering, has been in business for over 60 years and specializes in earthworks and civil engineering work for municipalities as well as commercial and private customers. The company is currently handling 27 projects. The company has debts of 3.9 million euros, which are offset by assets of 1.9 million euros, resulting in over-indebtedness of 2.0 million euros.

The reasons given for the financial misery in the insolvency application were the ongoing construction crisis, a sharp rise in construction costs and increased financing costs.