Insolvency Compensation Fund Pays Outstanding Kika/Leiner Salaries

According to a statement from the Insolvency Compensation Fund (IEF) on Thursday, the outstanding November salary, along with a portion of the Christmas bonus, will be credited to the accounts "by the beginning of next week" at the latest. The transfers are to be carried out "in the shortest possible time".

Kika/Leiner - Insolvency Compensation Fund Pays Outstanding Salaries

The Lower Austrian Chamber of Labour has calculated the insolvency claims for employees of Leiner & kika Möbelhandels GmbH, LeiKi Gastro Alpha GmbH and LeiKi Gastro Beta GmbH. There are 1,409 notices, with a total of 3.8 million euros being awarded, according to the AK NÖ to APA.

In the case of the second major insolvency in Austria - the bankruptcy of the Upper Austrian motorcycle manufacturer KTM - no applications from the three insolvent KTM companies have yet been received by the Insolvency Compensation Fund. The IEF expects the applications "at the earliest next week". "Only then can the examination of the applications begin", said the Insolvency Compensation Fund.

In recent days, the media has repeatedly speculated about the financial situation of the IEF in light of the wave of insolvencies. The Insolvency Compensation Fund is "currently adequately endowed with around 400 million euros", stressed the IEF management. No employee affected by insolvency has to "worry about the financial compensation of outstanding claims".

(APA/Red)

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