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More than €400 million in equity, 50 robots and a DAX-listed investor were not enough: The Vienna-based timber construction scale-up Gropyus has just filed for insolvency at several of its subsidiaries. The parent company, Gropyus AG, is not affected, according to the company. Gropyus did not say which subsidiaries are involved.
The company blamed an acute liquidity shortage. A contractually agreed investor payment that was already due had not been made as planned, it said, and bridge funding from existing shareholders was not enough to cover all the companies. Gropyus did not name the investor that failed to pay. The filings are regular insolvency proceedings, and restructuring…