Klagenfurt / Liebenfels.
The specialist for the production of photovoltaic modules “Energetica Industries” has to face insolvency proceedings without personal responsibility at the regional court in Klagenfurt. According to a broadcast by the credit protection association from 1870 on Monday, 24.9 million euros in liabilities are offset by 2.9 million assets. 239 creditors are affected. The restructuring plan provides for 20 percent in four installments of five percent each over three years.
The company, founded in 2004 and based in Liebenfels in the St. Veit / Glan district, manufactures photovoltaic modules. According to the information provided by the debtors, the restructuring will take place because supply chains have failed due to the corona crisis. As a result, production was significantly disrupted and the Chinese technicians were also not allowed to enter the country.
In August the shareholders added capital of 1.5 million euros – 750,000 in the form of a capital increase, 750,000 in the form of a shareholder loan – and by the end of August the company had positive equity. In September there was a massive drop in orders. After a specific investor refused, over-indebtedness and insolvency occurred at the end of September 2021.
Reduction in personnel costs
According to the credit protection association, the management has developed a continuation concept to reduce and optimize production costs, which includes the conversion from four-shift operation to three-shift operation. The aim is to reduce personnel costs, the company currently has 112 employees.
In addition, a further adjustment of the overhead costs, i.e. in addition to the personnel costs, the costs for buildings and machines, for example, to the size of the company is planned. The previous growth strategy of 50 million euros in annual sales will not be pursued in the short term.