The bankruptcy proceedings were opened today at the Commercial Court of Vienna, according to releases from the Alpine Association of Creditors (AKV) and the Credit Protection Association of 1870 (KSV1870). A total of 458 employees and freelancers are affected by the two bankruptcies.
163 employees affected
According to the broadcast, 163 employees are affected by the insolvency of Flink Austria, and the amount of the liabilities was given as 22.4 million euros. The Austrian subsidiary delivered goods of all kinds to customers in Austria from locations in Vienna, Graz and Innsbruck by express bicycle courier.
According to the AKV, Flink Austria was only founded in September 2021 and has only been operational since October 2021. With the financial help of the German parent company, this business area should have been set up in Austria. “According to the applicant, it was not possible to implement this business model profitably in Austria,” says the broadcast.
Attempts to sell unsuccessful
The German parent company has initiated restructuring in Germany and is therefore not making any further financial resources available. Whether the continuation of the company and the debt relief will be requested through a restructuring plan will only become apparent in the course of the proceedings. According to the AKV, previous sales attempts have been unsuccessful.
The bicycle messenger subsidiary of Flink Austria also opened bankruptcy proceedings today, the KSV1870 announced in a broadcast. 252 employees and 70 freelancers are affected by the insolvency of the subsidiary; according to the broadcast, the liabilities amount to 4.9 million euros. The goods were delivered via the Flink Delivery bicycle messengers. According to the AKV, nine creditors are said to be affected. The reason for the insolvency was, among other things, the insolvency of the parent company.
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