Million-dollar bankruptcy of a well-known metal trading start-up

And it goes on to say: “Despite positive operational development, the funds are, according to the company’s own statements, not sufficient to service upcoming loan repayments. Due to the lack of further financing, there is therefore no longer a positive forecast for continued existence.”

Die Metaloop Europe GmbHwhich used to be called previously ROMSH GmbH was insolvent. The Graz Regional Court for Civil Law Matters has stated AKV, Creditreform and KSV1870 Reorganization proceedings without self-administration were opened over the assets of the international metal trader. Ten employees are affected by the bankruptcy. Wages and salaries were paid up to and including May.

According to Creditreform, the Metaloop Group Inc. (USA) appears as the sole shareholder in the company register; Alexander Schick and Jan Pannenbäcker are the managing directors.

The background

Metaloop Europe is active in the international trade in secondary metals, with a focus on copper, aluminum and stainless steel. In her role as an intermediary, she connects industrial sources with customers such as smelters and smelters and takes on all steps of the trading process – from setting prices to organizing transport and financial processing. The business relationships mainly exist with large industrial companies in Europe.

The company headquarters is in Graz, where central areas such as management, parts of management, operational trading, logistics and supporting functions are located. There is also a location in Vienna, where the finance department in particular is located.

Fusion im November 2024

Metaloop Europe was created through the merger of Schrott24 GmbH with ROMSH GmbH in November 2024. Schrott24 GmbH was founded in 2016 and operates in metal recycling under the Metaloop brand. ROMSH GmbH was founded in 2024 and renamed Metaloop Europe GmbH in November 2024.

Debts and assets

According to available documents, the debtor values ​​its assets at around 10.2 million euros. This primarily includes goods and inventories of current assets amounting to around 2.66 million euros as well as outstanding trade receivables amounting to 6.44 million euros. The liabilities amount to around 11.08 million euros.

However, the liquidation values ​​are significantly lower. According to KSV1870, the assets are only 3.29 million euros and the liabilities are 8.72 million euros.

The future

According to AKV, Creditreform and KSV1870, the debtor company should be continued. Creditors are offered a restructuring plan quota of 20 percent, payable within 24 months of acceptance of the restructuring plan. The quota is initially to be financed through the reduction of inventories and the collection of outstanding receivables and subsequently from the current income from business operations.

Lawyer Helmut Klementschitz in Graz was appointed as insolvency administrator.