A non-self-administration reorganization procedure has been opened for the Lower Austrian fashion company Blaumax at the Korneuburg Regional Court. About 40 creditors and nine employees are affected.
Information about the obligations is not yet available. The Alpine Creditors Association (AKV) and KSV1870 announced on Thursday that the company would continue to operate.
Pandemic, more expensive production and less consumption
Decreases in turnover due to the corona pandemic, but also price increases in production and changed consumer behavior were cited as the main causes of insolvency.
According to its own information, Blaumax mainly sells outerwear for women and the main focus of its wholesale business is in Germany.
Source: Krone
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