Thursday, 31. 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.
Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.
Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.
German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.
Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.
Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.
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.
The most popular stories –
last 7 days
|Priest Claims Hate Texts Are From Demon Spirit|
|Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong|
|Ice Tea Worth 20K Stolen And Emptied So Bottles Can Be Sold For 11 GBP|
|Graffiti Artists Asked To Finish Off Vandalism Too Costly To Remove|
|Japanese Pervert Planned Natascha Kampusch Style Kidnap|
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.