The debts of the bankrupt jewelry and watch dealer Alphagold in Linz amounted to more than 7.9 million euros. Now the curator is pulling out the piggy bank in the course of the restructuring: seven branches of the company behind the brands ‘Le Clou’ and ‘Juwelier Reiter’ have already been closed down.
“We are where you are,” can be read on the website www.leclou.at, where Austria’s largest jewelry chain refers to its more than 30 branches. But: The figures are no longer current.
Because: curator Norbert Mooseder has implemented savings in the restructuring process at Alphagold Schmuck- und Uhrenvertriebs GmbH from Linz, which is behind the brands “Le Clou” and “Juwelier Reiter”, and has already initiated the closure of stores.
The branch in Wels was also affected
The two locations in Germany (Landshut and Munich) were ordered to close on February 20, followed a few days ago by five locations in Austria: in Vienna, Gerasdorf, Feldkirch, Kufstein and in the Welas Park in Wels. The first appointment at the regional court in Linz will take place on April 12: the first facts will be put on the table during the creditors’ meeting and the restructuring plan will be voted on in mid-May.
Losses from the Corona period
The financial problems of Alphagold Schmuck- und Uhrenvertriebs GmbH have been official since February 14. When bankruptcy was declared, the debts were valued at 7.95 million euros. According to KSV 1870, the reasons for the bankruptcy were losses from the Corona period and the fact that outstanding loans were due at the house bank.
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.
