“The Heidenbauer Group covers all metal construction trades as well as the building plumber and blackdecker trades and is divided into 5 areas: STEEL, ALUMINUM, STAINLESS STEEL, METAL CONSTRUCTION and ROOF WALL,” it says on the homepage. “We implement high-quality architectural solutions and concepts. Through our buildings we shape space and stimulate the aesthetic debate between people and architecture. This has been our vision since 1946.”
Today, Friday, they have it Heidenbauer Edelstahl GmbH („HE“), die Heidenbauer Roof Wall GmbH (“HDW”), die Heidenbauer Aluminum GmbH (“HA”) and the Heidenbauer Stahl und Tragwerk GmbH (“HST”), all based in Bruck an der Mur, filed insolvency applications with the LG Leoben. The creditor protection associations confirm this AQUA, Credit reform and KSV1870 the COURIER. A total of 129 employees are affected by the bankruptcies.
“The aim is also to preserve as many jobs as possible. Heidenbauer has a highly qualified, committed team and a stable order situation,” the group said in a press release.
“While HDW has applied for restructuring proceedings with self-administration and HE has applied for restructuring proceedings without self-administration, HA and HST are applying for bankruptcy,” says the AKV.
The causes of bankruptcy
“As for the causes of insolvency, it is stated that the COVID-19 pandemic has led to a reduction in economic output and a massive increase in the cost of materials procurement. The general economic situation, particularly in the real estate sector, as well as the Russia-Ukraine war are also having corresponding effects,” it continues. “In the wake of the pandemic, significant funding that had been used had to be repaid.
Ultimately, the bankruptcies of major customers led to payment defaults amounting to millions.”
Debts and assets
All four companies have high liabilities to the financing banks, suppliers and public bodies. In addition, there are high customer deposits received.
- Heidenbauer Edelstahl GmbH has 13.64 million euros Debt and free assets amounting to 267,000 euros.
- Heidenbauer Dach Wand GmbH has 3.64 million euros Debt and 21,000 euros in free assets.
- Heidenbauer Aluminum GmbH has 33.43 million euros Debts and 400,000 euros of free assets.
- Heidenbauer Stahl und Tragwerk GmbH has 12.32 million euros Debts and 154,000 euros in free assets.
The future
“As part of the restructuring process, the Heidenbauer Group will adapt the organization and structure of the company to the changed economic conditions and consolidate its strengths,” said the company.
“With regard to HA and HST, only bankruptcy applications were submitted, although here too there is sufficient order situation, so that the possibilities of continuation or restructuring will have to be clarified in the short term and both companies reserve the right to submit restructuring plan applications,” said the AKV. “As part of the continuation, contracts that are no longer necessary for operations are to be terminated and necessary restructuring measures are to be implemented in both personnel and organizational areas. Financial plans developed show sufficient liquidity for the coming months.”
And it also says: “HE has a restructuring plan proposal which provides for a 20% quota within 2 years. At HDW, the creditors are presented with a restructuring plan proposal which provides for a 30% quota within 2 years.”