A company that makes popular chocolate candies named after Mozart has gone wrong.
Salzburg Schokolade, the maker of Mozartkugel, has filed for bankruptcy.
The maker of the popular candy, described by retailer Mirabell as “a center of marzipan, surrounded by layers of dark, clear praline cream, coated with the finest rich dark chocolate,” cites losses going back five years.
The company has liabilities of approximately 27.29 million euros, ($ 30.9 million) at liquidation value, of which unsecured are approximately 17.69 million euros ($ 20 million) , filing statements, and assets of approximately 23.35 million euros ($ 26.4 million), of which free assets are approximately 13.75 million euros ($ 15.5 million ), depending on the file.
There are around 614 creditors, according to the press release, and around 140 employees affected.
“The causes of the insolvency are mainly due to the loss of a large order in 2016 and a significant drop in sales due to the corona pandemic in 2020. The forecast for the continued existence of the company are initially negative, “said a press release on the states filing for bankruptcy.
“The debtor’s business dates back to 1897 and is a traditional confectionery manufacturer with a wide range of confectionery products. He is particularly known for the famous “Real Salzburg Mozart Ball by Mirabell”, which is produced exclusively for Mondelez, ”says the bankruptcy filing.
“In addition to fine praline specialties, the product range also includes Austrian confectionery icon Bobby Riegel. Other well-known brands are: Salzburg Confiserie, Maria Theresia Taler, Schokotaler.com (online store), Nordpol special products for bakers.
“On the other hand, the 100% subsidiary of the debtor, Salzburg Schokolade CZ sro, located in the Czech Republic / Plana, has not yet been affected by the bankruptcy in question ”, according to the press release.
Although Mozartkugeln are made by many companies, in different forms, the company that files for bankruptcy is the only one legally authorized to sell them under the Mozart name, which is protected by copyright.
The chocolates, made by confectioners such as the Salzburg Schokolade in Salzburg, Austria, are popular with tourists and are widely available in stores in Vienna and at airports across the country.
The liquidator lawyer is named Johannes Hirtzberger, appointed in Salzburg. “Report day articles were set for December 13, 2021 at 12:30 p.m. at LG Salzburg, and review day articles for February 7, 2022 at 9:30 a.m.,” the statement said.
The restructuring of the debtor company will have to be examined separately, specifies the file.
The company was founded in Salzburg in 1897 under the name Rajsigl-Suesswarenfabrik. He moved to Groedig in 1956.
Edited by Judith Isacoff and Kristen Butler