48 employees tremble

More than €3 million in debt: Bandagist goes bankrupt

The price increases are also said to have caused sales to fall.(Bild: Marc Calleja Lopez)

Bad news for the 48 employees of Bandagist Gattringer GmbH: on Monday, the company filed an application for restructuring with the St. Pölten Regional Court. According to Kreditschutzverband 1870, the liabilities amount to 3.27 million euros.

Bandagist Gattringer GmbH has several locations in Lower Austria, one in Steyr and therefore in Upper Austria - the 48 employees at all of them are now confronted with the fact that their employer is struggling with serious financial problems.

3.27 million euros in liabilities
The company, which operates out of Amstetten, filed an application for the opening of restructuring proceedings on Monday. According to Kreditschutzverband 1870, the liabilities amount to 3.27 million euros. "Based on the information available to us, the restructuring plan quota offered is to be generated from the continued operation of the company," says Alexander Greifeneder from KSV 1870.

Slowed consumer behavior, increased costs
What caused the insolvency? Above all, inflation and the associated fall in sales due to changes in consumer behavior are said to have led to the financial difficulties. Added to this were the increased energy costs, wage increases and rising interest rates, which had a negative impact on business operations.