35 employees and 47 creditors are affected by the bankruptcy. The liabilities amount to around two million euros, with the main component being real estate assets that are subject to a lien. The assets are valued at around 1.3 million euros.
The company was founded in 2014 and sells mobile phones and accessories at nine locations in Upper Austria. The reasons given for the bankruptcy are the current wave of inflation and old liabilities before the takeover of the current shareholders in 2019.
The slump in sales caused by the corona pandemic was still able to be offset thanks to third-party financing, but the inflation caused by the Ukraine war “ultimately stood in the way of cost-covering operations,” they say. There are no plans to continue the company.
Source: Nachrichten
