Renovation process in self administration of Elite-Transportservice

Elite-Transportservice from Steinach am Brenner slid into insolvency as a consequence of loosing a major client:

On 31 August a renovation process in self administration about the assets and liabilities of Elite-Transportservice GmbH, based in Steinach am Brenner, was opened at the regional court Landesgericht Innsbruck. The company has been operating heavy haulage transport business since 2004. The insolvency affects ten employees and about 60 creditors. The liabilities amount to about EUR 880,000 in total, as the association for the protection of creditors, KSV 1870, writes in a release.

The debtor named severe slumps in turnover (more than 50 per cent) due to the loss of a major client as a reason for the insolvency. The company had not been able to counteract this development with regards to costs quickly enough. Moreover the change in the customer structure made it necessary to modify the fleet as well.

In the application the debtor explained having carried out the necessary restructuring. Moreover the company intends to carry on working with its current staff of ten persons. The renovation plan stipulates a 30 per cent quota, to be paid within two years from acceptation by the creditors. The first hearing is scheduled for 11 November 2011.

Quelle: LogEastics
Portal: www.logistik-express.com