Wood Company Weiss GmbH Slips into Insolvency Again

A bankruptcy proceeding has been opened at the Salzburg Regional Court. The liabilities amount to 10.65 million euros, the assets to 0.95 million euros. 42 employees are affected. The company is to be closed. The proceedings were initiated at the company's own request. The company, founded in 1965, was already involved in a restructuring process with a 20 percent quota in 2024.

Weiss GmbH could not fully generate quota payments

According to Creditreform, the company was downsized. The quota payments were to be generated through the reduction of inventory and positive operational contributions from the business. "However, the previous restructuring process resulted in excessive burdens, so the quota payments could not be fully generated."

Several reasons were cited for the insolvency in 2024: The war in Ukraine led to disrupted supply chains and a decline in sales. The slump in the construction industry and high inflation also affected business operations, according to management. Additionally, the Credit Institutions Real Estate Financing Measures (KIM) regulation resulted in a drop in demand for the purchase of apartments and single-family homes. Last but not least, Weiss GmbH invested in a new planing mill - at a time when the causes of insolvency were not yet foreseeable.

Salzburg wood company Weiss GmbH to be closed

According to Creditreform, the wood company does not intend to continue operations. The company is to be closed. Attorney Thomas Payer has been appointed as the insolvency administrator. Creditors can register their claims through the Austrian Creditreform Association until January 7, 2026. The Salzburg Regional Court has scheduled the report and examination hearing for January 21, 2026.

(APA/Red)

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