The Vorarlberg household and service robot dealer myRobotcenter is insolvent. Due to, among other things, delivery problems, declining sales and changed conditions at a payment service provider, debts of about 14 million euros had accumulated, the KSV1870 announced on Wednesday at the opening of the reorganization procedure at the regional court of Feldkirch.
The operational and financial situation of the company, which has a branch in Götzis and a branch in Innsbruck, has deteriorated, according to the company, due to external factors such as supply problems, declining sales and the war in Ukraine. In addition, a payment service provider, which processes about 70 percent of online payments, unexpectedly changed its terms and conditions and myRobotcenter had to create a security reserve of 1.6 million euros or “freeze” existing credit within a very short time. Some suppliers have also switched to prepayment.
The company tried to take extrajudicial restructuring measures, but without success, the KSV said in its broadcast. The credit protection association is now examining a restructuring plan proposal submitted by myRobotcenter, which would require 30 percent of the debt to be paid within two years of the restructuring plan’s approval. This is being financed on the one hand by continuing the company as an online shop, on the other hand the number of employees – currently 14 – is reduced, the two branches are closed and the fleet is reduced.
After the investigation by the KSV has been completed, the restructuring plan will be negotiated and voted on in the regional court of Feldkirch on 28 July. Claims from creditors can be submitted by email to ins.feldkirch@ksv.at until June 30.
Source: Krone
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