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Reorganization proceedings without self-administration were opened today, Wednesday, at the Linz regional court regarding Alphagold’s assets. This was announced by the creditor protection association AKV, Creditreform and KSV1870.
108 employees are affected. The number of creditors is estimated between 160 and 183. Assets of 613,000 euros are offset by liabilities of 9.44 million euros. There are 32 branches in Austria and two in Germany. With the brands Le Clou and Juwelier Reiter, Alphagold is primarily represented in shopping centers.
“Changed general conditions” from 2015 due to increased digitalization are cited as the cause of the bankruptcy. The corona pandemic has created new challenges for the “non-systemically relevant” retail sector, and the company has responded with restructuring measures. In addition, innovations were driven forward with the development of a so-called “digital showcase”.
In autumn 2023 there were negotiations with interested parties about the sale of the company or a stake. The Christmas business was satisfactory, but could no longer avert bankruptcy. The financing bank called in the credit lines shortly before the bankruptcy was declared.
Creditors are offered a quota of 20 percent, payable within two years. Lawyer Norbert Mooseder from Steyr was appointed as insolvency administrator.
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