On 25 February the creditor gave the green light for the KTM renovation plan – but for some companies of the motorcycle manufacturer the fight for the future has not yet been won. With Avocodo GmbH and Pierer e-commerce GmbH, the two of the IT specialists, who were closed in the bankruptcy, became the lot days.
Finish, everything is fine – because of! Even if there was green light on 25 February in the regional court in the Innkreis in Innkreis in Innkreis for the renovation plan of KTM AG, KTM Research & Development GMBH and KTM components GMBH, the renovation was only made when the money has flowed. By 23 May, the motorcycle manufacturer has time to set up the 600 million euros required for this, which means that the rate of 30 percent must be paid. Although it is common for renovation procedures that the companies that are picked in bankruptcy will pay their quota within two years, KTM plans to do this in one lady.
The Mattighofen company still remains almost two and a half to place a dozerl behind the search for investors. But the fact is: as long as the cause is not done, not only the creditor, customers, suppliers and employees, but also other companies of the KTM group are vibrating. With Avocodo GmbH from Linz and Pierer e-commerce GmbH from Munderfing, two IT companies from the motorcycle manufacturer are bankrupt since 7 January. Both companies must be renovated.
29 employees already went
Avocodo has already had painful cuts in recent weeks. Various business areas were closed in February, 29 employees declared their resignation. The workforce is clamped to 86 employees. The staff of Pierer E-commerce is unchanged. You have 25 employees. At Pierer e-commerce, the number of recognized claims so far amounted to more than 1.1 million euros and with avocodo to 3.26 million euros.
Interesting: Although the renovation plans of both IT companies would be coordinated in April, these dates have now been postponed. The voices will only take place at the beginning of June. Reason: First, the transfer of the 600 million euros by KTM and therefore the conclusion of the renovation process, so that avocodo and Pierer e-commerce security are also able to meet their renovation plans.
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.
