E-mobility company Kostad from Lower Austria insolvent

Kostad Steuerungsbau GmbH has filed for restructuring proceedings without self-administration at the Wiener Neustadt Regional Court. The company manufactures charging infrastructure for electric vehicles and also offers related services. Production takes place in Ternitz (Neunkirchen district). Up to 150 creditors and 46 employees are affected. Liabilities amount to approximately €18.5 million, Creditreform and KSV1870 reported in press releases on Friday. Operations are to continue.

Founded in 2003, the company also operates in the fields of automation technology, control cabinet construction, and software development. According to the company, the reasons for the insolvency are the expiration of government subsidies in 2024 and the subsequent drop in orders. Due to a trend reversal in the industry since March 2024, the company has reduced its workforce from 80 to 46. Currently, it employs 25 blue-collar workers and 21 white-collar workers. According to the company, wages and salaries were paid up to and including March 2025.

Creditors are being offered a 20 percent payout within two years. A restructuring is expected to be achieved through the involvement of an investor. Preliminary discussions are said to have already taken place.

APA