Foreign competitors force Koch Spedition KG into its knees
Business to be continued: Koch Spedition KG applied for a restructuring process without self-administration – Liabilities of the company amount to EUR 1.9 million
On 8 January a restructuring process without self-administration about the assets and liabilities of Koch Spedition KG from Dobersberg, Waldviertel (Lower Austria) at the regional court Landesgericht Krems an der Donau. Liabilities of the transport and forwarding company amount to EUR 1.91 million, including employees’ claims of about EUR 76,000. The insolvency affects 29 employees and 160 creditors.
According to the management the company slid into insolvency because of last year’s rising fuel prices on the one hand, and fiercer competition from abroad due to the opening of the border. Countermeasures like withdrawing from the dairy business and fleet reduction had only improved the situation on the short term.
The indebted company shall be cleared of its debts by restructuring. For the complete satisfaction of their claims the insolvency creditors are offered a 20% quota, to be paid within two years from acceptation of the restructuring plan.
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Quelle: LogEastics
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