Petro Solutions GmbH from the Stiglechner sphere files for insolvency

Amount of liabilities and creditors

According to the balance sheet as of 31 December 2024, Petro Solutions GmbH had liabilities amounting to EUR 6,866,312.54. A conclusive overview of receivables and liabilities is not yet available. In total, 135 creditors are affected by the insolvency. The bankruptcy proceedings were opened, according to the AKV, because "mangels kurzfristig verfügbarer Liquidität stellte die Schuldnerin ihre Zahlungen ein".

The company's business operations are now only maintained to a limited extent. "Der Betrieb ist eingeschränkt aufrecht", the creditors' association stated. The debtor had already given its prior consent to the formal closure of the company. Petro Solutions GmbH states that it employs no staff.

Role of Petro Solutions GmbH within the group

According to the available information, Petro Solutions GmbH had most recently acted as an intra-group clearing unit for the Stiglechner Group. It provided motor vehicles, handled leasing, supply, facility and cleaning contracts, and functioned as a clearing point for public charges such as water, sewage and waste at petrol station locations. According to the commercial register, the company's object was the operation of motorway service stations, motorway service areas and petrol stations including ancillary facilities, as well as the trade in or brokerage of typical petrol station goods, operating resources and services.

Causes of the insolvency

According to the debtor, the causes of the slide into insolvency are closely linked to the fate of the parent companies. "Die Gründe für das Abgleiten in die nunmehrige Insolvenz führt die Insolvenzschuldnerin im Wesentlichen auf die Insolvenzverfahren der Julius Stiglechner GmbH und der Stiglechner Tankstellen GmbH zurück", the statement said. As an intra-group clearing unit, there had been "erheblichen Abgrenzungs- und Abstimmungsschwierigkeiten" during the conversion of contractual and service relationships.

Outlook on the proceedings

On the assets side, the liabilities are offset, according to the AKV, primarily by receivables from affiliated companies. Their recoverability depends on further settlement and, in part, on the course of the pending insolvency proceedings. "Den Verbindlichkeiten stehen nach Angaben der Schuldnerin insbesondere Forderungen gegenüber verbundenen Unternehmen gegenüber, deren Werthaltigkeit von der weiteren Abrechnung und teilweise auch vom Verlauf verbundener Insolvenzverfahren abhängt." The restructuring proceedings of Julius Stiglechner GmbH and Stiglechner Tankstellen GmbH are still pending.

The insolvency of Petro Solutions GmbH is thus another building block in the decline of the Linz mineral oil group. Only at the beginning of December of the previous year, two key companies of the group – Julius Stiglechner GmbH and Stiglechner Tankstellen GmbH – had failed. As reported, the petrol station locations are currently being sold in packages. With the bankruptcy proceedings now opened, the group is losing another operational link that had played a central role in the administration and accounting of the locations.

For the creditors, the opening of the bankruptcy proceedings means that they can file their claims to the insolvency table. No statement could yet be made on the expected dividend quotas, as the review of the asset and claims situation has not yet been completed. When the first creditors' meeting will take place has not yet been announced by the AKV.