Austrian logistics giant Nothegger collapses under €15M debt burden
Nothegger Transport Logistik GmbH, a logistics firm based in St. Ulrich am Pillersee, has filed for bankruptcy after struggling with severe financial difficulties. The Innsbruck Regional Court officially opened proceedings on Monday following an unpaid debt of €3.2 million to the Austrian Regional Health Insurance Fund (ÖGK).
The company's financial troubles stemmed from unpaid COVID-19 deferred taxes and social security contributions. During the pandemic, Nothegger relied heavily on deferrals but failed to set aside enough funds to cover these obligations later. As a result, it now owes €3.18 million to ÖGK, €1.8 million to tax authorities, and €9.25 million to banks, bringing total liabilities to around €14.25 million.
The Alpine Creditors' Association (AKV) estimates overall debts at approximately €15 million. Despite these challenges, the company still holds significant assets, including a vehicle fleet valued at €9.7 million for its own trucks and €7.4 million in leased or externally financed vehicles.
Insolvency administrators will soon assess whether restructuring is possible. A creditors' meeting and examination hearing are scheduled for mid-May. The future of Nothegger and its 300 employees remains uncertain, with liquidity issues posing a major hurdle to any recovery plan.
The bankruptcy proceedings will determine whether Nothegger can restructure or must cease operations. The outcome will directly impact the company's 300 workers, as well as creditors awaiting repayment. A decision is expected after the mid-May creditors' meeting.
