More than 40 years after its foundation, Manfred and Hannes Schäffer’s family business Schäffer Transport GmbH has slipped into insolvency. The company, based in St. Georgen ob Judenburg employs 19 people. The competent court, Landesgericht Leoben Abt. 17, opened a bankruptcy procedure on 14th August.
In the insolvency petition, the assets are estimated at around EUR 478,000, of which about EUR 200,000 are attributable to recoverable claims against customers; the liabilities total around EUR 778,000. In the 2017/2018 financial year, liabilities amounted to EUR 2.212 million, the loss carried forward was estimated at EUR 2.538 million and negative equity at EUR 1.671 million.
The economic decline of the company, which describes itself as a punctual and safe transport specialist in Austria and Italy, was unstoppable because of the ruinous price war. Therefore, the operation is being liquidated, tells a letter from the management to the bankruptcy court in Leoben.