Garden furniture maker goes bust

More than 120 people may lose their jobs due to the bankruptcy of an Upper Austrian company.

The Oberösterreichische Nachrichten (OÖN) newspaper reports today (Thurs) that Acamp will soon start a final clearance sale. The paper claims all measures to keep the firm afloat have failed. Acamp, which specialises in manufacturing garden furniture, filed for bankruptcy last year.

The company attempted to continue doing business after undergoing a restructuring process in a controlled insolvency procedure. Acamp – which is based in Vorchdorf near Wels – said in 2010 it had debts of 16 million Euros.

Now the OÖN alleges that around 120 employees could be sacked owing to Acamp’s failed bid to get back in the black.

The Austrian Creditors’ Protection Association of 1870 (KSV) announced last week that 1,672 companies went broke in the first six months of 2011, up by three per cent compared to the same period of last year. More than 10,000 employees were affected by developments between January and June 2011.