Large drop in sales

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The construction of switch cabinets is one of the specialties of Pesendorfer Elektromaschinenbau GmbH.

The heavy dependence on exports and the consequences of the war in Ukraine, which caused a sharp drop in orders in the industry - this combination has now proved toxic for a company from Upper Austria. Pesendorfer Elektromaschinenbau GmbH from Gmunden has been a restructuring case since Tuesday. Liabilities: 1.23 million euros.

Ing. Pesendorfer Elektromaschinenbau GmbH has accumulated a lot in recent years before the application for restructuring became unavoidable. A major customer had slipped into bankruptcy ten years ago, then another major customer also changed its ordering behavior and caused a drop in sales. Due to the war in Ukraine and the resulting cost increases, the industry hit the brakes, which meant that the financial difficulties could no longer be overcome.

Enough money to continue and finance the restructuring plan
The result: on Tuesday, the specialist for the construction of electrical machines and control cabinets filed for insolvency proceedings. As part of the planned restructuring, creditors are to receive a 20 percent quota - as things stand at present. According to current planning calculations, the positive continuation and financing of the restructuring plan is possible.

According to Kreditschutzverband 1870, liabilities amount to 1.23 million euros. This contrasts with assets of around 558,000 euros. Eleven people were last employed by the company in Gmunden.