Famed Austrian Maker Of Mozartkugel Sweets Files For Bankruptcy

Famed Austrian Maker of Mozartkugel Sweets Files for Bankruptcy

The maker of Austria's popular Mozartkugel chocolate pralines, in operation for over a century, is going out of business, according to the national creditors' union

MOSCOW (UrduPoint News / Sputnik - 30th November, 2021) The maker of Austria's popular Mozartkugel chocolate pralines, in operation for over a century, is going out of business, according to the national creditors' union.

Kreditschutzverband confirmed that Salzburg Schokolade filed for bankruptcy with a district court on Tuesday, almost a day after Austrian media reported its insolvency.

The distressed company's liabilities are estimated at around 27 million Euros ($30 million) and assets at 23 million euros. The bankruptcy process will affect 140 employees and over 600 creditors.

Wrapped in iconic red tin foil featuring Wolfgang Mozart, these chocolate-covered sweets are a popular souvenir for tourists visiting the Austrian composer's birth town of Salzburg.

The company has also been the sole supplier of Mozartkugels for US confectionary giant Mondelez.

The company, which dates back to 1897, was hit hard by coronavirus restrictions last year and suffered another blow after a new lockdown took effect nationwide last week.

The creditors' authority said that Salzburg Schokolade CZ, the company's Czech-based affiliate, has not been affected by bankruptcy. It is entirely owned by the Austrian company.

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