5.5 million euros in debt

Styrian metal construction company is insolvent

Gänsweider Metalltechnik was founded in 2007 - now the company has had to apply for restructuring proceedings with self-administration. The reason for this is the economic challenges in the industrial sector. 37 employees and around 120 creditors are affected.

The company Gänsweider Metalltechnik had to file for insolvency on Wednesday. The past few years have been characterized by declining sales - in addition, price pressure and costs (wages, materials, energy) have increased in the industry. In addition, the repayment of COVID-related liabilities (AWS loans), combined with outstanding payments from customers, put a massive strain on the company's liquidity.

Styrian industry is weakening
And so there was no way around the insolvency of the company from Söding, as KSV1870 reports. The company thus joins a large number of Styrian insolvencies - industry in particular is struggling. In order to ensure a possible continuation, the company wants to close unprofitable business areas and focus more on economically viable steel, plant, machine and aluminum construction. Internal structures are also to be streamlined and fixed costs further optimized.

High level of debt
This affects 37 employees and around 120 creditors. Debts amount to around 5.5 million euros - compared to around 3.25 million euros in assets.