Proceedings have been initiated against the specified individual by the Commission.
SalzburgChocolate, renowned for its production of the Real Salzburg Mozartkugel, filed for insolvency again on Wednesday at the Regional Court of Salzburg. This comes after the company failed to meet the planned timeline of the first insolvency restructuring plan, initially declared in 2021.
Initially, a 20% quota was paid to creditors as per the restructuring plan, with the remaining 80% due by February 7, 2025. However, this deadline was not met, causing the liquidation of the company's real estate shares, which served as security for the second partial quota. KSV 1870 reports that this process is nearing completion.
The current valuation of the real estate stands at €9.9 million, lower than the expected prior value. This discrepancy led to the inability to meet the full restructuring plan quota, necessitating the latest insolvency petition. According to KSV, approximately 300 creditors are owed around €7.7 million, and employment contracts for the factory's 58 employees were terminated as of the end of December 2024.
The Salzburg chocolate factory's financial struggles have been ongoing, with high cocoa prices and rising energy costs cited as contributing factors. The parent company, Mondelez International, now holds the license for the Mirabell brand of Mozartkugeln and has reportedly shifted production to other sites within its European network, causing controversy and criticism from local trade unions and Austrian chocolatiers.
However, the specific reasons for the latest insolvency petition, as detailed in available sources, remain unclear. It is suggested that efforts to save the factory have been ongoing for several years, and the petition may have been related to protecting worker interests or keeping production local. Union criticism also reflects dissatisfaction with Mondelez's lack of transparency regarding the move and concerns about preserving local heritage linked to this cultural product.
As of now, the factory’s insolvency is final, with production moved abroad. The 2023 petition appears to have been a last-ditch effort by local stakeholders to potentially influence the outcome or protect workers' interests, but it did not prevent the closure or relocation.
- The economic and social policy implications of SalzburgChocolate's insolvencycould significantly affect the local retail industry, as the factory's closure means the loss of domestic production of the Real Salzburg Mozartkugel.
- The financial struggles of SalzburgChocolate, involving industry players like creditors and finance institutions, have highlighted the challenges faced by businesses in a global economy with rising costs of raw materials and energy.
