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Austrian manufacturer of chocolates Mozart is driven to bankruptcy by pandemic

... After that, everything necessary will be done so that on the Christmas Eve, the employees do not have to worry about the current financial situation. The head of the company Christian Schuegerl, in his address to the public, said that the reason for the bankruptcy was a pandemic, which caused significant logistics costs and a drop in demand. Reduced tourist flows and the Austrians' savings on organizing holidays and other celebrations led to the fact that shops selling sweets in Salzburg and the capital Vienna were temporarily closed. Despite the rising electricity and packaging costs affecting Mozartkugel's production,...

ADLER FASHION CHAIN FILES FOR BANKRUPTCY

Lockdown, which was introduced in Austria in mid-December, has led to the bankruptcy of a famous clothing chain - Adler reported filing bankruptcy petition in the district court. It is assumed that the organization will face restructuring under the supervision of an interim manager. Adler brand has twenty-four branches operating ...

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