Bitter defeat for Thalheim family business: IPM Schober goes bankrupt!

Bitter defeat for Thalheim family business: IPM Schober goes bankrupt!

The Upper Austrian family company IPM Schober from Thalheim near Wels applied for bankruptcy proceedings at the Wels regional court on Tuesday. The company is now facing another critical turning point in its history, which has already been marked by financial difficulties. Loud oe24 43 employees and 80 creditors are affected by the proceedings.

The company's finances show a worrying situation: the liabilities amount to 7 million euros, while the assets amount to only 830,000 euros. This uncomfortable financial situation has not improved since the company's most recent bankruptcy last year. Non-self-administration restructuring proceedings were initiated in July 2024 and the cancellation of these proceedings occurred following the completion of a 20% restructuring plan on July 30. In this phase, the creditors only received a partial quota of 5 percent of their claims.

Background of insolvency

A second partial quota of the same amount was due in July 2025, but could not be met due to the ongoing economic difficulties. The optimistic assumption of a recovery in the construction industry has not been confirmed. Instead, a persistent economic weakness and liquidity bottlenecks meant that salaries for June and vacation pay could no longer be paid out.

The causes of insolvency lie primarily in the necessary payments from the time of pre-insolvency as well as in bad debts as a result of the insolvencies of your business partners. Unfortunately, the company is now planning to close IPM Schober Fenster, which could further aggravate the already tense situation.

Process of insolvency and restructuring

Dealing with such financial challenges is a challenge for many companies. Companies must file for bankruptcy if they can no longer meet their financial obligations. In such cases, insolvency or restructuring proceedings are initiated to ensure the survival of the company. According to information from IHK competence Although the objectives of these procedures are on different sides, both are crucial in supporting companies in financial difficulties.

The restructuring process aims to restructure the business and return to a positive economic course. This is of great importance for the company's employees and creditors. It remains to be seen how IPM Schober's situation will develop in the coming weeks and whether the company can once again find a way out of the crisis.