They had to say goodbye to the staff to turn the tide – but in the end it didn’t work! On World Savings Day, a restructuring application was submitted for the assets of Goldmann Pools & Wellness GmbH from Engerwitzdorf. October 31 was also a black day for the guitar learning app Fretello.
In the restructuring application, inflation and the associated decline in sales of wellness products and swimming pools are blamed for the renewed bankruptcy of Goldmann Pools & Wellness GmbH.
The company, based in Engerwitzdorf (Upper Austria), was founded in 2004 and in 2015 a restructuring process became necessary for the first time, which was completed in early 2018. The debts now amount to more than € 2.9 million. A staff reduction was not enough to prevent further bankruptcies.
The guitar learning app is going out of business
Fretello GmbH also became a case for bankruptcy court on World Savings Day. Although the company led by Florian Lettner and Wolfgang Damm convinced Thomann, the world’s largest online guitar retailer, and Yamaha, the top player in musical instruments, to collaborate, the Linz-based company lacked success.
According to the Credit Protection Association 1870, Fretello GmbH, which is behind the guitar learning app that is also backed by investors, has an over-indebtedness of just over one million euros. On the other hand, there are apparently also assets of approximately € 778,000. There were no employees recently at the software developer.
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.
