Insolvency: Spedition Tatschl & Söhne off the track

Tatschl & Söhne Speditions- und Transport Gesellschaft m.b.H. is the biggest insolvency case 2012 in Uper Styria – operations to be continued
 
The transport industry in Upper Styria was shocked by a major insolvency at the end of 2012. On 28 December the forwarding company Tatschl & Söhne Speditions- und Transport Gesellschaft m.b.H. based in Liezen applied for insolvency at the regional court Landesgericht Leoben. The family enterprise operating a forwarding company with a branch in Rheinmünster, Germany, has a total of 136 employees, 11 persons of them working in Germany. Term of application for creditors ends on 13 March 2013. Helmut Fetz, lawyer from Leoben, was appointed as liquidator for this case.
 
The insolvency of the Tatschl & Söhne forwarding company affects 206 creditors. As the indebted company states assets amount to about EUR 4.5 million; liabilities to about EUR 16.7 million. Accordingly excessive debts amount to about EUR 12.2 million. Operation shall be continued and rented, respectively, as the Austrian association for the protection of creditors KSV 1870 reports. In their report they emphasise on the national renowned customer base of the indebted company. The fleet consists currently of 91 trucks, 97 trailers and 35 cars.
 
KSV 1870 summarizes the reasons for the insolvency as follows: “The company developed positively until the end of 2008. From the start of 2009 business operations of the enterprise developed negatively. Fuel costs for diesel increased continuously since 2009 – almost doubled in the meantime – which could only partially be passed to customers in the form of cost increases. In addition a massive slump in sales of the entire automotive industry could be observed in 2009, thus the indebted company had to set aside 60 from their 90 car transporters for one year and had no turnover but operational costs for these vehicles (leasing cars etc.). The hope for recovery of the prices after the sales crisis was shattered due to the competitive situation – particularly from Eastern Europe.“
 
From 2011 operations – after selling the car transport division to Hödlmayr Logistics – were continued in a reduced form, and a management consultant joined the company. Intensive negotiations with investors started in July 2012 but showed no results. However operations can not be continued without fresh capital, because liabilities from the past years can not be covered through current business operations.

Quelle: LogEastics

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