Million-dollar bankruptcy of a well-known manufacturer of locks and fittings

Die Rohrbacher Schlosswarenfabrik Wilh. Grundmann GmbH has applied to the St. Pölten regional court for restructuring proceedings without self-administration. He confirmed that AQUA today, Friday, the KURIER. 63 employees are affected by the bankruptcy. The company was founded in 1894.

The company, based in Hainfeld, Lower Austria, specializes in the production of locks, door fittings and components for doors and windows. The production range extends from metal processing and surface finishing to the production of brass, zinc and aluminum parts. The company also produces and bottles spirits. Customers throughout Austria are delivered.

Debts and assets

According to AKV, the liabilities are around 9.5 million euros and the assets are around 7.72 million euros.

Quota of 20 percent planned

“The company aims to continue as a going concern. The creditors should be offered a restructuring plan with a quota of 20 percent, payable within two years of acceptance of the plan,” said the AKV. “The company has properties, machinery and equipment necessary for operations as well as extensive inventories and receivables. However, the properties are encumbered in favor of financing credit institutions.”