Two branches in Germany were closed, five stores in Austria were closed – it is now clear: business is improving for the jewelry chain “Le Clou”, which shrank after bankruptcy, and also for the brand “Juwelier Reiter”. The restructuring plan for Alphagold Schmuck- und Uhrenvertriebsgesellschaft mbH in Linz (Upper Austria) was accepted.
On Valentine’s Day 2024, insolvency proceedings were opened for Alphagold Schmuck- und Uhrenvertriebsgesellschaft mbH in Linz, which is behind the brands “Le Clou” and “Juwelier Reiter”. Three months later it is clear: the jewelry and watch retailer has been saved and the restructuring plan has been approved!
During the course of the proceedings opened in February, curator Norbert Mooseder reduced the office network: two locations in Germany (in Landshut, Munich) were closed, another five in Austria, more specifically in Wels, Kufstein, Gerasdorf, Vienna and Feldkirch. At the same time, creditors registered their claims – 6.9 million euros had been recognized by the court on Tuesday.
More than 1.3 million euros for creditors
What can the more than 210 creditors expect? Alphagold Schmuck- und Uhrenvertriebsgesellschaft mbH offered a 20 percent quota, which was accepted on Tuesday morning. This means: A total of more than 1.3 million euros will be paid out – in four tranches over the next two years. The restructuring plan is financed with the help of an investor.
“Le Clou” describes itself as the largest jewelry chain in Austria with more than 27 branches. “Jewelier Reiter” has two stores: in the Europapark in Salzburg and in the Hey! Steyr.
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.
