‘Mozart’ chocolate latest victim of Covid
Austrian confectionery manufacturer of the world-famous Mozartkugel chocolates, Salzburg Schokolade, has filed for bankruptcy, Austrian media report.
The insolvency proceedings will be initiated in the regional court in Salzburg on Tuesday. The company’s management expressed hopes it could manage to get through such a difficult period.
Salzburg Schokolade suffered significant losses as a result of the coronavirus pandemic. A sharp decline in the number of tourists – as well as in the celebration of birthdays and weddings – has led to a drop in the company's revenue.
The stores in Vienna and Salzburg remained closed for weeks during the pandemic. The candy maker did not pay its employees’ November salaries or their Christmas bonuses.
Salzburg Schokolade’s history extends back to the 19th century. The company was founded in Salzburg in 1897 under the name Rajsigl. In 1956, it moved its production to Grödig.
For more stories on economy & finance visit RT's business section
