Restructuring plan approved

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In mid-February, restructuring proceedings were initiated against the company behind the "Le Clou" and "Juwelier Reiter" brands.(Bild: Dostal Harald)

Two branches in Germany were closed, five stores in Austria were closed - now it is clear: the "Le Clou" jewelry chain, which shrank in the course of insolvency, and the "Juwelier Reiter" brand will continue. The restructuring plan for Alphagold Schmuck- und Uhrenvertriebsgesellschaft m.b.H. in Linz (Upper Austria) has been accepted.

On Valentine's Day 2024, insolvency proceedings were opened for Alphagold Schmuck- und Uhrenvertriebsgesellschaft m.b.H. in Linz, which is behind the "Le Clou" and "Juwelier Reiter" brands. Three months later, it is clear that the jewelry and watch retailer has been saved and the restructuring plan has been accepted!

In the course of the proceedings opened in February, insolvency administrator Norbert Mooseder reduced the branch network: two locations in Germany (in Landshut and Munich) were closed, and a further five in Austria, specifically in Wels, Kufstein, Gerasdorf, Vienna and Feldkirch. At the same time, creditors registered their claims - by Tuesday, 6.9 million euros had been recognized by the court.

More than 1.3 million euros for creditors
What can the more than 210 creditors expect? Alphagold Schmuck- und Uhrenvertriebsgesellschaft m.b.H. offered a quota of 20 percent, which was accepted on Tuesday morning. This means that a total of more than 1.3 million euros will be paid out - in four tranches over the next two years. The restructuring plan will be financed with the help of an investor.

With over 27 stores, "Le Clou" describes itself as Austria's largest jewelry chain. "Juwelier Reiter" has two stores: in the Europapark in Salzburg and in the Hey! shopping center in Steyr.