Austrian Auto Supplier EITEK Files for Restructuring Amid €144M Debt Crisis
EITEK GmbH, an automotive supplier based in Ebergassing, Lower Austria, has filed for self-administered restructuring. The company, which specialises in interior systems and components for cars, faces severe financial difficulties. Its collapse affects 319 employees and leaves creditors with significant losses.
The firm's troubles began amid a broader crisis in the automotive industry, where rising costs and falling demand have hit suppliers hard. EITEK's financial situation worsened until it officially became insolvent on 16 January 2026. At that point, none of the major global car brands it once supplied remained in its customer portfolio.
Total liabilities now stand at an estimated €144 million. Of this sum, €109 million comes from potential damage claims. Under self-administration, the company will push forward with a restructuring plan. Creditors can expect a recovery rate of around 30%.
Gary R. Laufenberg and Frank Günther, the managing directors, will oversee the process. Neptune Industries, LLC, the sole shareholder, remains involved as the company attempts to stabilise its operations.
The restructuring aims to secure a future for the business while addressing its substantial debts. Employees and creditors will watch closely as the plan unfolds. For now, the company's survival depends on successfully navigating these financial challenges.
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