Despite a mountain of debt of more than nine million euros, Hochrieser GmbH had hoped to be able to turn things around by means of restructuring processes. But on Friday these hopes were shattered: the specialist parquet company from Neuzeug (Upper Austria), which also has branches in Knittelfeld and Bruck an der Leitha, had to stop operations.
It’s over! On April 12, Hochrieser GmbH from Neuzeug submitted an application for restructuring. KSV 1870 reported 9.1 million euros in liabilities when the insolvency proceedings were opened. But hopes were shattered on Friday: Insolvency administrator Norbert Mooseder submitted the application for the closure of the parquet specialist business to the bankruptcy court. “The liquidity gap is too big. It was not possible to find a financier for the continuation,” says the lawyer. With immediate effect, the company will be shut down down to the administration. Construction site work stopped Work on the construction sites has been stopped, tools and material have been ordered back to the company’s headquarters. 47 employees were last employed at Hochrieser. They will now be informed about how to proceed at a works meeting on Monday. Conflict over warranty defects When the bankruptcy was opened, the reasons given for the financial imbalance were an increase in the credit line for the construction of a showroom that was not granted, and problems with clients. The Hochrieser GmbH is said to have carried out screed work as a subcontractor for construction companies, which was not paid for under the pretext of warranty defects. The operator of a football stadium is also said to have refused payments, according to the bankruptcy application. Specifically, the company is in conflict with LASK Arena GmbH & Co KG.
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