Tyrolean insolvency threatens 300 transport employees

The Tyrolean transport company Nothegger is insolvent, as reported by tirol.ORF.at and other media outlets. The bankruptcy proceedings for Nothegger Transport Logistik have been opened in the Innsbruck regional court. According to creditor protection associations, the liabilities amount to around EUR 15 million. Approximately 300 employees could be affected by the insolvency.

The application was submitted by the Austrian Health Insurance Fund (ÖGK), which claims outstanding social security contributions in the millions. According to the ‚Alpenländischen Kreditorenverband‘, debts of about EUR 3.2 million exist with the ÖGK and around EUR 1.8 million with the tax office, with approximately EUR 9.3 million owed to banks. Despite some partial payments, the financial problems could not be resolved.

The management had banked on an investor entering the scene, as well as on selling a property. However, these steps could not be implemented in time. The court therefore deemed the conditions for bankruptcy proceedings to be met.

Deferred taxes from the coronavirus pandemic are said to be an additional burden. The repayments now due will significantly worsen the company’s liquidity, according to KSV1870. The insolvency administration is now examining whether it’s possible to continue operations. A first creditors‘ meeting is scheduled for mid-May.

www.nothegger-transporte.at