HAKA Files for Insolvency Following Villeroy & Boch Takeover
- brg_news_room
- Aug 18
- 1 min read
Austria: Austrian furniture manufacturer HAKA has filed for insolvency proceedings without self-administration at the Linz Regional Court. Reports indicate liabilities of 11.4 million Euros against assets of 2.16 million euros, with 158 employees yet to receive their July salaries. The company, which was due to mark its 95th anniversary this year, cited challenges linked to the 2023 takeover of the Villeroy & Boch plant in Mondsee as a key factor behind its financial difficulties. The acquisition included continued supply obligations and the assumption of employee claims.
HAKA plans to maintain operations under a restructuring process, with a liquidity plan offering creditors a quota of 20 percent payable within two years. The company has also committed to delivering all kitchen orders already placed. The Chamber of Labour has advised employees to remain patient and avoid premature termination of contracts to protect their legal rights during the insolvency process.
Source: Wohninsider
