Tuesday, 22. July 2014
25. 03. 14. - 16:00
Karlheinz Essl, the founder of DIY company bauMax, has offered his collection of 7000 artworks held in the Essl museum in Lower Austria to the Austrian state with the hope that the sale will help secure 4000 jobs in his company.
BauMax is thought to be in debt to creditors but 74-year-old Essl is hoping that together with support from the bank, the money raised from the sale would help to restructure bauMax and save jobs.
"My wife and I are prepared to hand over the art collection to the state in order to save 4000 jobs in Austria," he said.
It's also understood that the sale will help to ensure the collection does not leave Austria, which is a risk if it is taken by bank creditors and then sold to foreigners. Essl has said it would "be a great loss to Austrian cultural landscape" if the collection was split up or lost.
The collection includes works from artists including Max Weiler and Arnulf Rainer and has a guaranteed 'book' value of 84 million Euros but estimates of it's retail value are as high as 250 million Euros.
The Austrian government has confirmed it is due to enter talks soon with Essl as well as representatives from the bank with the hope that a solution will be found for the paintings.
A spokesperson for BauMax has denied the company is on the brink of insolvency but confirmed to the ORF that they made a loss in 2012 and were given 78 million EUR by the bank in the same year.
Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.
Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.
Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.
Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.
Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car – and realising it was a huge two metre snake that had ended up curled around the engine.
What is on at Haydn Kino this week? (10 July - 16 July)
The following films are on at the English language cinema Haydn Kino on Mariahilfestrasse between 10 July and 16 July...
Beekeeping is booming in Vienna
People living in Vienna have got a new hobby - beekeeping.
Queen of Englands favourite horses used as lawnmowers in Vienna
Horses from the famous Spanish Riding School are being used to help keep the grass down in city parks in Vienna.
Lightning Strike Near Frankenstein Castle Hits Car On Motorway
A massive lightning bolt blew a hole in a road in the German city where the legend of Frankenstein was born that was so big police had to mount an operation to seal off a lane keep motorists safe.
Today @ Haydn: Scarface
Haydn Kino is celebrating their 100th anniversary and they want you to join them on an incredible journey to the past...
The most popular stories –
last 7 days
|Multi Coloured UFOs In Formation Over Austria|
|Priests Furious After Porn Films Shot In Local Parish Church|
|Hobbit Dwarf Actor Chases And Catches Cyclist Mugger|
|Vintage Luxury Car Prepared For Prince Philip Rusts In Romanian Car Park|
|Society Girl Gave Adopted Kid Back A Day Later After Sleepless Night|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.