Under Armor importer goes bankrupt

Under Armor importer goes bankrupt
Under Armor importer goes bankrupt

The US brand Under Armor no longer wants its Austrian sales partner.

It is – based on the liabilities – one of the biggest bankruptcies in the current year: bankruptcy proceedings have been opened against BMM Sports GmbH, based in Linz, according to the creditor protection associations. The liabilities amount to 16 million euros, writes the debtor in the bankruptcy application.

The company, based in Linz’s Petzoldstraße, has sold products from the Under Armor sports brand – since 2011 in the Czech Republic, Slovakia, Hungary, Slovenia and Croatia, and since 2021 also in Austria.

30 employees are currently still employed. The company still has a large warehouse and wants to sell it to existing retail customers. That should bring the crowd around one million euros. Then it should be closed.

From 2021, Under Armor stores were operated by a separate company owned by BMM Retail, an affiliate of the current debtor. The two stores in Plus City in Pasching and in Shopping City Seiersberg have been insolvent since January and are now closed.

BMM Sports made loans to its sister companies that are now uncollectible. The American sports brand Under Armour, which came as a complete surprise to the management, has now declared that it is no longer interested in a further business relationship and has terminated the contractual relationship with immediate effect, writes KSV 1870 in a statement. The house bank then blocked all accounts.

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