A renowned jewelry dealer from Linz is Insolvent. After a failed expansion, falling turnover and rising costs, only the Bankruptcy Court remained. 54 creditors and various employees are affected. Now a radical austerity course should take course.
On July 9, 2025, a renovation procedure without self -administration was opened to the regional court of Linz on July 9, 2025.
630,000 euros in debts
Three employees are currently affected. In general, the procedure has 54 creditors. The company’s assets (assets) of the company amount to around 370,000 euros, while the obligations (liabilities) are around 630,000 euros. From now on, claims can be registered by the KSV1870 Credit Protection Association, which represents the creditors before 26 August 2025.
Strongly sunken sale
As early as 2021, the company had its company extensively past the existing location in the Linz-Infra-Center and an extra branch opened at PFARRGASSE 2 in Wels. However, this was closed again in 2024 due to persistent negative business results. According to the company, the bankruptcy is mainly due to the highly sunken sale in the lower and middle price segment of the watch and jewelry trade, which is in particular attributed to general inflation and changed consumption behavior.
Continuation
Despite the financial problems, the continuation of the company is planned. Initially, an orderly sale of the existing goods stock is planned. The company must then be continued in a considerably reduced form as a specialized store for watch and jewelry service. In the course of the renovation process, the creditors are offered a renovation plan with a quota of 20 percent, which must be paid within two years.
Petra Wögerbauer of KSV1870 emphasizes that the insolvency manager will check whether the company will be continued without causing additional damage to the creditors. With the processing of the procedure, is allowed. Elisabeth Huber, lawyer in Linz, was entrusted.
Creditor meeting on September 9
The first creditor meeting including the status of the reporting day is planned for September 9, 2025 at the Linz Regional Court. On October 21, 2025, negotiations and coordinated via the proposed renovation plan. The KSV1870 ultimately points out that the information from the company has not finally been investigated.
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.
