The Viennese Jollydays GmbH is insolvent. The credit protection association KSV1870 announced that the company, which specialized in the sale of vouchers for adventure activities and the organization of events, was opened on Friday at its own request at the Vienna Commercial Court.
Accordingly, Jollydays has debts of 8.6 million euros, which are offset by assets worth approximately 100,000 euros. Ten employees and approximately 430 creditors are affected by the bankruptcy.
The internet platform www.jollydays.at, through which the vouchers were sold, is operated by the sister company Jollytec GmbH. Insolvency proceedings were also opened against Jollytec at the Vienna Commercial Court.
Sales fell sharply in the spring
In the spring of 2024, both the turnover via the internet platform and via retail partners will have fallen considerably, KSV1870 points out on debtor information. Discussions with potential investors surprisingly failed.
“The receiver will now have to decide whether to continue the company or close it down,” said Brigitte Dostal of KSV1870, according to the announcement. “The coming weeks will show whether an investor can be found.”
Attorney Michael Ludwig Lang has been appointed as trustee; the deadline for filing claims expires on October 10, 2024. The first creditors’ meeting and the audit and reporting meeting will take place on October 24, 2024.
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.
