Millions in debt
Wood technology company is now a restructuring case
The strong drive towards circularity, timber construction and the temporary boom in tiny houses fueled the business and hopes of Leidorf GmbH from Altheim (Upper Austria). Recently, however, the company has been struggling with increasing economic problems. The result: insolvency proceedings were opened.
"The company's mission is to develop and implement high-quality, sustainable and energy-efficient timber construction solutions," can be read on the website of Leidorf GmbH, which is based in Altheim and is now the subject of restructuring proceedings.
Liabilities amounting to 6 million euros are said to exist with around 80 creditors. This contrasts with assets of around 4.7 million euros, reports the Alpenländische Kreditorenverband.
Modern robot system
Leidorf GmbH was founded in 2015. The company specializes in carpentry and CNC machining, primarily processing large-format wood-based materials. The foundation is a modern robotic CNC system that was developed.
What are the reasons for the insolvency? The termination of the overdraft agreement by the bank and the resulting delay in the purchase of cross-laminated timber, which in turn delayed deliveries and resulted in penalties. High repayment and interest expenses for investments also made the situation more difficult. The creditors were offered a 20 percent quota in the restructuring plan.
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