Loss of 7 million

Styrian building materials trader files for insolvency

The next insolvency case in the Styrian construction industry: Baulöwen BaustoffhandelsgmbH, based in Kalsdorf, has filed for the opening of restructuring proceedings without self-administration. The liabilities amount to more than 7 million euros.

The crisis in the construction industry has thus claimed its next victim in Styria. Baulöwen BaustoffhandelsgmbH has now also had to file for insolvency. The company is headquartered in Kalsdorf, with branches in Fehring, Premstätten and Deutschfeistritz - a total of 22 people are currently employed.

The company is run by brothers Alexander and Josef Pongratz, who also manage the renowned construction company of the same name, Pongratz Bau.

Continuation planned
The weak economic situation is cited as the reason for the insolvency of BaustoffhandelsgmbH. In addition, there was a bad debt loss of 1.6 million euros in the current financial year, AKV and KSV reported on Tuesday. 

Liabilities are estimated at 7.032 million euros, compared to assets of 3.659 million euros. In the insolvency application to the Graz Regional Court, reference is made to restructuring measures and the intention to continue the company.