Austrian baked goods chain Ankerbrot remains heavily in debt despite reporting annual turnover up from €158.6m to €161.3m (US$158.4m) in 2001.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The beleaguered company managed to reduce its debt marginally from €65.6m to €61.5m during the year under review. Major creditors at Bank Austria/Creditanstalt, Erste Bank, Raiffeisen ZentralBank, Oberbank and Bawag, which are together responsible for €34.5m of this debt, are planning to hold talks about the present state of the company and to discuss what measures should be taken about the financial situation, reports local paper Die Presse.
Staff at Müller subsidiary Ankerbrot have taken salary cuts and foregone their holiday entitlements in a company-wide effort to help the company back into the black.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
