The insolvent auto accessories chain Forstinger is closing 11 of its 86 domestic stores. The company announced on Friday that 50 employees have been affected, who must register with the AMS early warning system starting today. The possibility of employment at other Forstinger locations is discussed with the employees involved in one-on-one meetings.
A few weeks ago, Forstinger went bankrupt for the third time. The car accessories chain is going for a restructuring. Streamlining the branch network is a measure to ensure the company’s survival “to strengthen the network as a whole,” the company said. The range of services and workshops will be expanded at the other locations.
The locations affected by the closure in Hagenbrunn, Imst, Murau, Pinkafeld, Ried im Innkreis, St. Johann in Tirol, Traisen, Traiskirchen, Vomp, Waidhofen an der Thaya and Zistersdorf will remain open until the end of August.
On July 6, Forstinger filed a request with the regional court of St. Pölten to initiate non-self-management restructuring proceedings with a quota of 20 percent. Drastic changes in the preconditions due to Corona, inflation and loss of purchasing power among customers made the step necessary, it was said at the time.
The company’s annual turnover was around 90 million euros. The chain currently has more than 600 employees.
Source: Krone
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