Bankruptcy of a well-known mechanical engineering company worth millions | courier

And it also says: “In order to process our customers’ projects and orders with the best quality and on-time delivery, we have adapted our organization to the requirements and assigned the tasks to the divisions. The division managers support the management and are happy to answer your concerns at any time!”

About the assets of the companies PAYR Group (PAYR Group GmbH, PAYR Construction GmbH, PAYR Production GmbH und Payr Engineering GmbH) based in Patergassen, restructuring proceedings without self-administration were opened today at the Klagenfurt Regional Court. That confirms Iris Scharitzer von Credit reform the COURIER. 51 employees are loud AQUA and KSV1870 affected.

The group of companies specializes in mechanical and special machine construction. The focus is on the development, design and production of individual system solutions – from prototypes to fully automated systems.

The causes of bankruptcy

“The insolvency of the PAYR Group is essentially due to the failure to sell the developed fiber casting technology as well as to burdensome market and personnel cost developments,” said Creditreform. “In addition, the ongoing effects of the energy crisis led to permanently increased energy and operating costs and further exacerbated the economic situation.”

The debts

The liabilities total around 11.0 million euros.

The future

„All four insolvent companies are currently striving to continue operations and complete restructuring plans,” says the AKV. “The financing of the restructuring plan quotas should be guaranteed from continued operations, restructuring measures to be implemented and partial utilization of fixed assets that are not necessary for operations. Liquid funds may also be supplied from third parties.”