Viennese Building Materials Dealer Quester is Insolvent: 290 Jobs at Risk

The reason is the "persistently negative development of the construction industry," the company announced. How the company, founded in 1934, and its approximately 300 employees will continue is now to be decided by an insolvency administrator. An investor is needed for the continuation.

On Friday, it became known that Quester cannot pay the salaries for October. For these, the state insolvency compensation fund, which is financed from payroll-related costs, will step in - with a delay. It legally secures employees' outstanding claims in the event of an employer's insolvency.

Company: Talks with Potential Investors

Quester is relying on fresh money from an investor for continuation. Intensive talks are already being held with potential investors, also regarding the financing of the reorganization plan. "The seamless continuation of operations will be coordinated with the insolvency administrator based on the already developed continuation plan," the company management expressed optimism. Quester did not disclose the amount of debt or how many creditors are affected.

According to the creditor protection organizations AKV and KSV1870, Quester owes money to 1,200 creditors. The debt amounts to around 50 million euros. In contrast, the assets are estimated at 13 million euros if the company continues, but in the event of bankruptcy, these assets would shrink to 7.5 million euros, it was said. Creditors are to receive 20 percent of their claims back within two years. A subordination agreement of the former owner over his claims of 27 million euros is being negotiated, explained the AKV.

Vienna Building Materials Dealer Quester Filed for Insolvency

The past years have been anything but smooth for the building materials and tile dealer, which recently had 18 locations in Vienna, Lower Austria, Styria, and Carinthia. The former family business has changed owners three times since 2005 and has belonged to the German "turnaround" specialist Callista Private Equity since June 2025. In the past two years, Quester recorded a loss of 7 million euros and 15 million euros, according to the commercial register. Revenue has halved over the past 20 years to 130 million euros.

(APA/Red)

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