86 jobs gone: insolvent construction company from Upper Austria closes

The insolvent construction company Malzner Erdbau GmbH in Schiedlberg (Bezirk Steyr-Land) closes with December 23rd. That’s what they reported Upper Austrian news in their Tuesday edition.

Mass management Christopher Schuster I informed the workforce about this at a works meeting. 86 employees lose their jobs.

Many large construction sites were not paid for

The reasons are the order volume that does not cover costs and a lack of financial resources. The period of company vacation until January 12th could not be bridged and the continuation forecast was negative. There were no interested parties for a takeover.

In its bankruptcy filing at the beginning of the previous week, the company referred to the general recession and price increases that could not be passed on after contracts were awarded. “Many large construction sites have not been paid for”. Almost 1.1 million euros in assets are offset by a good 2.7 million euros in liabilities. In addition to the workforce, 100 creditors are affected.