Trade Resources Market View Pios Applied on 5 November to The Salzburg District Court for The Institution of Rescue

Pios Applied on 5 November to The Salzburg District Court for The Institution of Rescue

21.11.2012 − The Austrian one-strip parquet manufacturer and trader Pios applied on 5 November to the Salzburg district court for the institution of rescue proceedings under own administration. The amount of debt is quoted by the KSV 1870 Credit Protection Association as roughly €2.3m. Assets shown in the 2011 balance sheet total only roughly €2.16m. Insolvency creditors are now to receive a dividend of 30% within two years. The lawyer Dr. Elisabeth Bukovc from Salzburg was appointed as rescue administrator.

 

Source: http://www.euwid-wood-products.com/news/building-products/single/Artikel/parquet-manufacturer-pios-applies-for-rescue-proceedings.html
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Parquet Manufacturer Pios Applies for Rescue Proceedings
Topics: Construction