Job concerns as wood firm goes bust

Dozens of employees fear losing their jobs as a Carinthian wood industry business filed for bankruptcy.St. Veit an der Glan-based Vito asked a court in Klagenfurt to start controlled insolvency procedures today (Tues), according to the Creditors’ Protection Association of 1870 (KSV). KSV said Vito’s debts range around 5.2 million Euros. The association also announced that 59 staff and 240 creditors are affected. Reports have it that bankruptcy negotiators aim to approach international investors to take over the ailing parquet flooring manufacturer.Only yesterday, it emerged that building sector company Neuhold & Co. GmbH (Neuhold) has gone bust. The company, which has its headquarters in Judendorf-Straßengel, Styria, currently employs 26 people. Neuhold’s debts surpass 1.2 million Euros. The company could not agree with a bank institute about financing a restructuring plan to stay alive.