Liquidity squeeze at Vitaform

Vitaform, an Austrian pet food wholesaler, has put in an application for financial restructuring to the Eisenstadt Commercial Court. Mag. Michael Wagner from Neusiedl am See has been appointed insolvency administrator. The company says that the fiscal year just ended did not go as planned, citing the general economic situation and the problems in the banking sector as the reasons for this. Industry experts believe the change in the structure of the Austrian pet supplies trade and the growing pressure from competitors in the wholesale trade are also to blame. Vitaform does not consider that its collaboration with Iams/Eukanuba in Austria has contributed in any way to its poor financial situation, as very good operating figures were achieved here. The difficult conditions overall obstructed attempts to alleviate the company’s liquidity problems, however. Vitaform intends to carry on trading nevertheless and wants to concentrate in future on a rounded-down core product range.