Klarnachrichten
Search

Hardware store Hellweg is broke

125

The company Hellweg Austria is broke. That means: The company has too many debts. The debts are almost 24 million Euro high. 165 people work at Hellweg in Austria.

There are 6 hardware stores in Austria. These stores stay open. The range of products stays the same. Customer cards and discounts are still valid. The company wants to get healthy again.

There are many reasons for the bankruptcy. People buy less things. Costs for rent and power are higher now. Supply chain problems and weather also play a role. The parent company in Germany is also broke.

Around 280 creditors wait for their money. This includes banks and suppliers. The company wants to get healthy without help. This is called self-administration. No workers lose their jobs right now.

This text was generated automatically and has not been reviewed for accuracy. No guarantee is given for the correctness of the content. Learn more Learn more about article generation

Definitions

Bankruptcy
A bankruptcy means that a person or a company cannot pay their bills. There is not enough money for all debts.
Reorganization
A reorganization is a plan to save a company. The company tries to lower costs to make a profit again.
Creditors
Creditors are people or companies that lent money to someone. They wait to get their money back.
Range of products
A range of products is the selection of goods that a store offers for sale.

People

Petra Wögerbauer
She is an employee at the credit protection association KSV1870 and provided information about the bankruptcy.

Locations

Austria
A country in Europe. The company Hellweg runs 6 hardware stores there.
Germany
A country in Europe. The parent company of Hellweg is located there.
Ried im Innkreis
A place in Upper Austria. The company owns land there.

Sources

Logo Kurier
Kurier

Pleite einer bekannten Baumarkt-Kette: 165 Mitarbeiter vor Job-Verlust

Read now
Logo VOL
VOL

Insolvenz der Baumarktkette Hellweg: 24 Mio. Euro Schulden

Read now
Logo ORF Oberösterreich
ORF Oberösterreich

Insolvenz: Baumarktkette hat rund 24 Mio. Euro Schulden

Read now
Logo Kleine Zeitung
Kleine Zeitung

Insolvente Baumarktkette Hellweg hat 23,8 Millionen Euro Schulden

Read now

Latest articles

Economy

International Trade

New tax for packages from abroad

Read now

Small packages from non-EU countries cost 3 Euro more now. This rule applies to goods worth under 150 Euro. The rule makes trade fairer.

Economy

International Trade

Europe and China argue about trade

Read now

The EU and China talk about trade. Europe buys many goods from China. New rules shall make trade fair. This protects jobs in Europe.

Economy

Companies & Markets

AI makes tech devices expensive

Read now

Devices like phones and laptops get expensive. The reason is Artificial Intelligence. Big firms need much memory. This causes a shortage and high prices for users.

Politics

Domestic Policy

Politics: Who earns the most extra money?

Read now

Many politicians have extra jobs. They earn a lot of money. Most of these people belong to one party. Only one woman earns very much extra money.