Renovation Plans Accepted: Höhrhan Group Remains Intact

The continued existence of the Lower Austrian Höhrhan Group is secured according to information from Wednesday. According to Stephan Mazal from Creditreform, creditors agreed to restructuring plans in all four insolvency proceedings at the Krems Regional Court. They each receive a quota of 20 percent. 13.2 million euros of the registered claims of 17.3 million euros have been recognized, and planned layoffs of up to a quarter of the 176 employees have been prevented.

Continued Existence of the Höhrhan Group Secured

Restructuring proceedings with self-administration were opened at the beginning of October for Robust Industry GmbH in Krems, Robust Plastics GmbH and AKG Plastics GmbH in Vienna, as well as HT Electronic Systems GmbH in Neudörfl, Burgenland (Mattersburg district), which primarily supply the automotive industry. Causes of the insolvency were declines in sales due to the poor economic situation in the automotive sector and massive cost increases. The Höhrhan Group is active in industries such as the manufacture and wholesale of plastic goods, the manufacture of machine tools for metalworking, and investment companies.

Restructuring Plan Secures Jobs

515 creditors had registered claims. Of the 20 percent quota, five percent will be paid as a cash quota by February 28, 2026. The acceptance of the restructuring plan secures about 160 jobs, according to insolvency expert Stephan Mazal from Creditreform. Departures occurred only due to voluntary resignations and retirements.

(APA/Red)

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