AZ Bau goes bust

A Carinthian construction company has filed for bankruptcy.Twenty-one employees and almost 200 creditors will be affected by the insolvency of AZ Bau. The Villach-based firm said today (Fri) it had assets of 1.3 million Euros, adding that its liabilities were 3.17 million Euros.The CreditorsÂ’ Protection Association (KSV 1870) said the plan was to find a way to keep the company alive. Judges at the Provincial Court in Klagenfurt are set to deal with the matter.Around 6,400 Austrian companies of all trade sectors went broke last year, 7.6 per cent less than in 2009.