Insolvency of Sondertransporte GmbH in Wörgl, Tyrol

Liabilities of EUR 11.7 million forcing Sondertransporte GmbH down; continuation of business is uncertain
 
Bankruptcy proceedings about the assets and liabilities of Sondertransporte GmbH based in Wörgl, Tyrol, were opened on 19 April at the regional court Landesgericht Innsbruck. Established in 1992 the forwarding company has been specialising in transportation of items with overlength, as well as heavy and special transport. During peak times the enterprise had 80 employees, informs the Austrian association for the protection of creditors Gläubigerschutzverband KSV 1870. According to a statement of Paul Gruber, managing director, filing for insolvency, the company’s liabilities amount to about EUR 11.7 million. The first audit was appointed for 29 May 2013.
 
The manager attributes the breakdown of the company to the slumps in turnover since the economic crisis began. However, the company had initiated massive restructuring measures in the past years, which did not reduce costs to the expected extent. Moreover turnover has not recovered sufficiently. In addition the competitive situation has become fiercer in the past years, not allowing for financial recovery. In the years since the economic crisis the company has made high losses, thus the accumulated deficit amounts to about EUR 2.3 million by now (equity capital is negative with about EUR 2.1 million).
 
Lawyer Dr. Ingrid Hochstaffl, the appointed liquidator, will have to investigate during the next days whether business operation can be continued in line with the insolvency proceedings. However this will depend on whether there are lucrative orders and sufficient financial means to cover all current expenses, taxes and costs for staff and operations.

Quelle: LogEastics

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