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Austrian manufacturer of chocolates Mozart is driven to bankruptcy by pandemic

Salzburg Schokolade company, which produced Mozartkugel (‘Mozart Balls’) branded chocolates, filed for bankruptcy. The company filed a bankruptcy petition with the court on Monday. At the moment, the fate of 140 employees who are ... ... 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 ...

Companies of what industries were more likely to go bankrupt in 2021?

... number of bankruptcies in 2021 exceeded the same indicator in 2020 by 3.4%. At the same time, in 2020, there was a government moratorium on initiating insolvency proceedings for companies of industries that were the most affected by the coronavirus pandemic. Experts attribute relatively low increase in the number of bankruptcies to the increased level of income of companies compared to 2020. In the first nine months of 2021 alone, almost 3 times more was earned than in the same period of 2020. However,...

THE OLYMPIC GAMES DID NO GOOD: A WAVE OF BANKRUPTCIES COVERED HOTELS OF JAPAN

Japan's hospitality business is suffering losses, and experts warn that ruin could threaten the entire hospitality sector. The pandemic has resulted in many hotels being less than 20% full in July. Hoteliers hoped that the Olympics, which were postponed ... ... agency’s research, according to which 57.3% more hotels went bankrupt last year than in 2019. Out of the 188 hotels that filed for bankruptcy, 55 companies named losses caused by the pandemic as the cause of the financial collapse. According to the Japan Travel ...

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