And again there is an insolvency report for the Styrian company SFL: This time, SFL Engineering in St. Marein in the Mürz Valley with 96 employees applied for a restructuring procedure. After losing processes, the company quasi fled to the front.
Johann Höllwart is one of the most colorful and well-known entrepreneurs in the country. Since 1988 he has been managing the SFL company, which specializes in high-quality metal and glass facades. But the successful course ended in 2017, SFL Technologies in Stallhofen slipped into failure. The restructuring request was accepted by the creditors, but there was another bankruptcy in 2019. In the meantime, the company has been restructured and assets have been divided differently within the group. After the second bankruptcy, this led to numerous legal proceedings, some of which concern SFL Engineering in St. Marein in the Mürz valley. Value in dispute: more than two million euros. There is a risk of insolvency. SFL Engineering has now lost its first litigation. The company therefore surprisingly applied for a restructuring procedure with self-administration on Tuesday – due to impending insolvency. Due to the legal uncertainty – further litigation could be lost – no more major projects can be accepted. AKV’s credit protectors emphasize that there are no backlogs with finance and health insurance. According to KSV, the creditors are offered a cash quota of 30 percent of the outstanding claims. Whether or not employees have to be cut is not specifically stated in the insolvency application.
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