An Austrian furniture manufacturer has filed for insolvency, placing around 180 jobs at risk and delivering what local officials describe as a major blow to the regional economy. The company, based in eastern Styria, plans to continue operations in a reduced form while actively seeking new investors.
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The company in question is ADA Möbel. The insolvency affects employees at its Anger and Raaba sites, with uncertainty also surrounding its international workforce in Romania and Hungary. Local leaders warn that the collapse of such a key employer will have wider economic consequences,…