Zentrasport: Creditors accepted restructuring plan

The creditors of the insolvent Sport 2000 cooperative Zentrasport accepted the restructuring plan yesterday: However, as reported, they will receive a lower quota than originally planned. According to creditor protection agency Creditreform, the plan provides for 53 percent instead of the original 60 percent, of which 15 percent is payable within 14 days, 15 percent within twelve months, twelve percent within 18 months and eleven percent within 24 months. The plan is to be financed through debt collection and the sale of goods. The German Sport 2000 GmbH will supply the dealers in the future.

The creditors had registered claims amounting to 66 million euros, 25 million were recognized. The reason for the lower quota is, among other things, that the quota of the insolvent Styrian retailer Geomix was reduced from 30 to 20 percent.