Juicy million-dollar bankruptcy of a well-known automotive supplier: 319 jobs affected

It also says: “In November 2023, our location was acquired by a private equity company and renamed today’s EITEK GmbH. Thanks to the positive business development over the past year and a half, EITEK has been part of a world-leading American group in the automotive industry since July 2025. EITEK GmbH is one of the leading suppliers for some of the most prestigious car brands in the world. Our high-quality materials and innovative solutions help ensure that every vehicle is not only functional, but also unique.”

We are talking about EITEK GmbH, FN 270332y, based in Ebergassingnope. She has today on Regional court in Korneuburg submitted an application to open restructuring proceedings with self-administration. This is confirmed by the KSV1870 and Credit reform the COURIER. 319 employees are affected by the bankruptcy.

In the company register, Messrs. Gary R. Laufenberg and Frank Günther appear as managing directors; the sole shareholder is Neptune Industries, LLC.

The background

“The debtor is involved in the production, processing and distribution of complete interior systems and their components for the automotive industry. The company was originally founded as a carpet weaving factory in 1850. Over many decades, the company has now developed into a globally recognized automotive supplier in the premium vehicle segment,” says KSV1870. “EITEK GmbH claims to be one of the leading suppliers for some of the most prestigious car brands in the world.”

The causes of bankruptcy

“The applicant’s financial problems are a direct result of the crisis in the automotive industry. Inflation and a massive drop in demand put a massive strain on the budget. Because of the amount of liabilities, there was no alternative to filing for insolvency,” said Credireform.

The debts

Creditreform estimates the liabilities at 144 million euros. According to KSV1870, around 109 million would be attributable to claims for damages if the company was not continued.

The future

“The company will now be continued under self-management by implementing a restructuring and redevelopment concept,” says KSV1870. Creditors will be offered a restructuring plan with a quota of 30 percent.