A famous orthopedic technician goes bankrupt with millions

The company is scheduled to continue and be restructured.

“The debtor aims to continue and restructure its company. Creditors are being offered a 22 percent stake as part of the restructuring plan, payable within two years. Based on the information available to us, the offered restructuring plan stake will be generated from the continued operation of the company,” says Alexander Greifeneder from KSV1870.

We are talking about Bandagest Gatteringer GmbH (FN 328268y) Based in Amstetten. It has applied to the St. Pölten Regional Court for restructuring proceedings without self-administration. KSV1870 expects that insolvency proceedings will be opened soon. “The debtor trades in medical devices and aids in the field of orthopedic technology. In addition, the debtor company manufactures, among other things, prostheses, orthoses and seat covers. The debtor operates according to Credit Repair Nine branches in Vienna, Lower Austria, Upper Austria“It's still going strong. It employs 48 people.

Debts

According to KSV1870, “In particular, inflation and the associated decline in sales as a result of changing consumer behavior have now made it necessary to submit an application for opening restructuring procedures without self-administration. Moreover, the increase in energy costs, increases in salary levels and rising interest rates have also had a negative impact on the debtor’s business operations.

Liabilities amount to 3.27 million euros. Assets amount to 700 thousand euros.