Stiglechner bankruptcy

Petrol stations saved for the time being, 500 jobs remain

At Stiglechner, the fuel should soon be flowing again.(Bild: P. Huber)

A big sigh of relief at Linz-based petrol station operator Stiglechner: following the insolvency of the family business, banks have now agreed to finance the continuation of operations. The fuel should start flowing again on Monday.

Two weeks ago, two companies from the Linz-based Stiglechner Group filed for insolvency with debts totaling 188 million euros. Since then, negotiations have been underway with lenders to enable the continuation of the petrol stations operated by the family business.

The "long but very constructive" negotiations have "ultimately led to the result that the banks will give us financing to continue," says Peter Shamiyeh, insolvency administrator of Stiglechner Tankstellen GmbH, to "Krone". The final approval of the banks' management boards is still pending.

Continuation of 71 petrol stations
As reported, the petrol stations had recently increasingly run out of fuel and other goods such as vignettes because suppliers were no longer delivering as a result of the bankruptcy. From Monday, the fuel should start flowing again thanks to the secured financing: "We have already ordered fuel and store goods," says Shamiyeh. "We will be supplied again from the beginning of next week."

This affects 71 service stations operated by Stiglechner throughout Germany as well as two car washes. Those petrol stations that are now temporarily closed due to fuel shortages are to reopen on a piecemeal basis from Monday. "The financing is calculated in such a way that it will cover the continuation of operations throughout the insolvency proceedings," says Shamiyeh. The next meetings are scheduled for spring.

500 jobs to be saved
The 500 or so employees of Stiglechner Tankstellen GmbH are probably breathing the loudest sigh of relief: "We can give everyone the good news before Christmas that they can keep their jobs," says Shamiyeh.

Julius Stiglechner GmbH, which employs around 65 people in administration, is also insolvent. No immediate job cuts are planned here, but the jobs are not set in stone either.