A week after Zentrasport Österreich e. Gene. in Ohlsdorf (Upper Austria) submitted its request for restructuring to the court, the procedure for the wholesale of sporting goods has now also been opened. With debts of around 64 million euros, it is the largest corporate bankruptcy of the year in Upper Austria so far.
To date, 229 Sport 2000 dealers in Austria have been managed by Zentrasport Österreich e. Gene. delivered in Ohlsdorf. The sporting goods wholesaler has a total of around 400 customers in Austria, the Czech Republic, Hungary and Slovakia.
The bankruptcy of the Styrian dealer geomix AG, itself a restructuring matter, and a high stock level have put the company under enormous pressure recently.
54.1 million euros obligations to suppliers
The result is insolvency proceedings, which have also been officially opened since Friday, August 11. According to the Credit Protection Association 1870, Zentrasport Österreich e. Gene. to 63.9 million euros. A total of 54.1 million euros in invoices are outstanding with suppliers and the banks have 7.1 million euros in credit.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
