An ambitious installation company goes bankrupt for millions

“We are your competent partner for future-oriented and energy-efficient building technology. Our offer includes innovative solutions such as concrete core activation, efficient cooling ceiling systems, professional underfloor heating and the precise milling of underfloor heating,” it says on the company’s homepage. “Our aim is to use modern technologies and a high level of expertise to realize projects of outstanding quality. We see every project as an opportunity to not only meet your current needs, but also to create significant added value for your property. Trust in our expertise for the efficient and future-oriented implementation of your construction projects.”

About the assets of the Tripus Haustechnik GmbH based in Ilz, Styria, restructuring proceedings were opened on September 17th at the Graz Regional Court for Civil Law Matters. The company operates in the areas of gas, water, heating and plumbing installations. 53 employees are affected by the bankruptcy.

The causes of bankruptcy

“The debtor has itself filed an application for insolvency proceedings with the court. Regarding the reasons for insolvency, she states that the increase in material costs and the development of the cost landscape as a whole have led to economically negative projects. Furthermore, the liquidity situation in the company was increasingly strained due to various developments (e.g. long payment terms, necessary financing of advance payments),” he said KSV1870. “The KSV1870 will carry out appropriate research into the reasons for the insolvency in cooperation with the insolvency administration.”

The debts

The liabilities are estimated at 1.3 million euros.

The future

Despite the difficulties, the company is fighting: the order situation is currently satisfactory, according to the insolvency application. The company is therefore aiming for a restructuring plan and offering creditors the legal minimum quota of 20 percent.

Attorney Bertram Schneeberger in Hartberg was appointed as insolvency administrator.

Verification of adequacy

“He must now check whether it is possible to continue operations – an essential prerequisite for the success of the restructuring,” says KSV1870 expert Klaus Schaller. The KSV1870 will review the restructuring plan proposal for its appropriateness and financial viability.

The first examination meeting will take place on November 17th, and the restructuring plan will be voted on on December 1st, 2026.