Generations of Viennese music makers, from beginners from e-giatar to large and well-known names of the industry, have received everything they needed with expert advice, but now the sound color, the largest music activities in Austria, is deep in debt.
The legendary sound color of Vienna, at the same time the largest music industry in the whole of Austria, is in the abyss: the company with its headquarters in the gasometer has gone into bankruptcy: an insolvency manager has already taken over the company, since the credit protection association of 1870 (KSV) has been announced in a broadcast. Three million euros in debts have gathered, 48 jobs of well -known music -like employees are at stake.
Reflaying fight with online competition
With its large business areas, the company has not only created inflation that bullying the entire trade. Moreover, there were falls from the sale, mainly due to the competition from online musical dealers. There were also plenty of Viennese musicians to come to the Timbre to get advice and to try instruments – and then searched for them cheaper on the internet. In the end, the company was increasingly involved in hard price fights with the online giants.
The owners want to continue and offer their 110 creditors – especially manufacturers of instruments, stage technology and the like – a quota of 20 percent of the output, to be paid within two years. It is open whether the creditors and the insolvency manager give their blessing. Only recently did the company have lost its long -term director and pioneer Christian Eibl, who died at the end of April after a long serious illness.
For the music scene of Vienna, Timbre was more attitude than the business community. It was not for nothing that it was founded in the 1980s as a quasi cooperative, with which music lovers mainly wanted to fight for themselves access to instruments and equipment that was previously sought in the city. It was only in 1989 that the club, which had its home in an iconic brick building on Einsiedlerplatz in Margaret’s for decades, became a company. In 2010 the switch to today’s location took place in the Gasometers.
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.
