Bankruptcy of a well-known garden center operator worth millions

The Rosen Waibel HandelsgesellschaftmbH out of Mäder has submitted an application to the Feldkirch regional court to open restructuring proceedings without self-administration. This is confirmed by Günther Moser from Credit reform the COURIER. 30 creditors and 23 employees are affected by the insolvency. The company, founded in 1991, is active in the trading and distribution of flowers and operates a garden center. The managing partner is Marco Waibel.

At the same time it is Waibel Floristik GmbH based in Münchendorf, NÖ, insolvent. According to KSV1870, it has submitted an application to the regional court in Wiener Neustadt to open restructuring proceedings without self-administration. 44 employees are affected by the bankruptcy.

The causes of bankruptcy

As causes of insolvency Roses Waibel the company says loudly KSV1870 inflation, which led to a loss of purchasing power for important customers. Existing overcapacity on the market would have exacerbated the competitive situation. As a result, sales fell and liabilities increased. “The house bank ultimately dealt the decisive blow: it terminated the business relationship and made the loan due,” says Creditreform.

According to KSV1870, the Waibel Floristry The loss of an important major customer not only resulted in a significant decline in sales, but also indirectly led to a legal dispute with the debtor’s suppliers. These circumstances as well as the general increase in prices made it necessary to submit the application now.

The debts

Rosen Waibel’s liabilities amount to around 2.49 million euros, of which around 2.315 million euros are due. The liabilities of Waibel Floristik amount to around 5.7 million euros, the free assets are 890,000 euros.

The future

Both companies are to be continued. The creditors are each offered a restructuring plan with a quota of 20 percent, payable within two years. Loss-making parts of the business, such as the production of flowers, should be closed. The turnaround will probably not be successful without reducing the number of employees, according to the opening application.