Vobitech Austria

Type
Bankruptcy
Country
Austria
Region
Ostösterreich; Wien; Wien
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
140 jobs
Number of planned job losses
Job loss
Announcement Date
29 October 2003
Employment effect (start)
1 October 2003
Foreseen end date

Description

Unable to face the charge of its debt (5.33 million euros) Vobitech had to declare insolvency. 140 employees risk to loose their job. The first consolidation measure has been the quick closure of 6 of its 18 subsidiaries in Austria. The company continues its activity but a decision should be taken in the beginning of 2004.

Sources

  • 29 October 2003: Der Standard

Citation

Eurofound (2003), Vobitech Austria, Bankruptcy in Austria, factsheet number 59822, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59822.