Austria

Inject Star Pökelmaschinen files for bankruptcy

Equipment

Inject Star Pökelmaschinen, headquartered in Hagenbrunn, Austria, has announced it has filed for bankruptcy. The situation affects 63 workers and 250 creditors. The company's assets amount to 525,800 euros which are attributable to liabilities of nearly 8.8 million euros.

Posted on Oct 04 ,07:00

 

 

According to Creditreform, the causes of the insolvency are linked with the insolvency of an important customer of Inject Star's and a more difficult market environment.

Despite the immediate introduction of restructuring measures and discussions with the financing banks, the application for insolvency was ultimately unavoidable, according to trend.at. "The possibility of acquiring a company through a potential investor should be examined immediately," according to the lawyer's representative of the company, Georg Hampel.

In the spring of this year, the company took into account a restructuring of its operations and its credit lines were extended after the discussion with the company's creditors by the end of September 2017. Still, the restructuring plan proved to be non-objective in its form and didn't provide the necessary results. The company wasn't able to pay its workers' wages starting in September.

The Haagenbrunner based Inject Star Pökelmaschinen manufactures equipment for sausage and ham production and other products for meat processing. Founded in 1967, the company is valued at around 8.3 million euros.

Comments

Similar articles