Austrian wood company insolvent; cites war in Ukraine, disrupted supply chains and slow construction

Insolvency proceedings against Weiss GmbH, based in Flachau (Pongau), were opened at the Salzburg Regional Court on Wednesday. The company, which specializes in the wholesale and retail trade in wood and the processing of wood and is also active in timber construction, is over-indebted and insolvent. Liabilities of around 15 million euros are offset by assets of almost 3 million euros. Around 360 creditors are affected by the bankruptcy. The information has not yet been verified. However, the aim is to continue the family business founded in 1965. If the restructuring plan is accepted, the creditors will be ...