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

The reason is the "persistently negative development of the construction industry," the company stated. How the company, founded in 1934, and its approximately 300 employees will proceed is now up to insolvency administrator Matthias Schmidt to decide. 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 - albeit with a delay. It legally secures employees' outstanding claims in the event of an employer's insolvency. According to the GPA union, a works meeting is planned for Wednesday.

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. Next, a creditors' meeting and a report hearing are scheduled for November 18, with the registration deadline running until December 24 of this year.

According to the creditor protection organizations AKV and KSV1870, Quester owes money to 400 creditors, initially, there was talk of 1,200 creditors. However, Quester has no debts with banks. The total 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 stated.

Quester Owes Former Owner BME 27 Million Euros

The creditors are to receive 20 percent of their claims back within two years. A subordination agreement is being negotiated with the previous owner - the Dutch Building Materials Europe (BME) group - regarding its claims of 27 million euros, explained the AKV. This means BME must effectively waive its claims so that Quester can have a future.

Viennese Building Materials Dealer Quester Filed for Bankruptcy

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, respectively, according to the commercial register. Revenue has halved over the past 20 years to 130 million euros.

The FPÖ saw Quester as the "next victim of the economic policy total failure of the losing traffic light coalition."

(APA/Red)

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