100 jobs gone

Gigasport closes four of 14 locations

The Austrian sports retailer Gigasport is closing four of its 14 stores - it is planning a strategic realignment, the company announced. 100 employees will lose their jobs.

The company has been suffering from the difficult market situation in the sports retail sector for some time. Measures were already taken last year to secure the company's existence. "With the closure of four Gigasport locations and the corresponding adjustment in the central area, this process will be completed and the company will be strengthened economically," explained a press release.

Gigasport speaks of "extremely challenging" years
"The last few years have been extremely challenging for the entire retail sector, especially sports retail," the statement continues. The entire industry has suffered from the coronavirus pandemic, high energy prices and a weak economy. While costs are rising, sales are only developing modestly. Gigasport was also hit hard by the insolvency of the Sport 2000 Group last year.

Costs are being cut throughout the company
Four stores are now being closed in order to strengthen the company economically. The locations Wolfsberg, Spittal/Drau, Leoben and Innsbruck will be closed at the end of January 2025. Adjustments will also be made in the central area and cost-cutting measures will be implemented throughout the company. A total of 100 employees are affected.

The crisis in the sports retail sector has been going on for some time now, leaving retailers with full stocks. This was particularly noticeable in the bike trade after the sales boom during the coronavirus pandemic. In July of last year, the Sport 2000 cooperative had to apply for restructuring proceedings. In 2023, turnover in the sporting goods industry fell by 4.4% in real terms to 2.28 billion euros. Employment figures fell by 1.7 percent.