9 of 13 stores are closed

After bankruptcy: jewelry retailer closes stores

The display cases are empty, the grille in front of the entrance door remains down: The branch in Linz is one of nine stores that has been closed.

(Bild: Einöder Horst)

Last year, the company celebrated its 90th anniversary - now the battle for the future is raging. And the cost-cutting pencil is being used to great effect! Following the insolvency of Goldwelt Juweliere & Uhrmacher GmbH in Linz, the trustee in bankruptcy of the jewelry retailer has already shrunk the branch network. Nine of the 13 stores have been ordered to close.

A red notice advertises a 20 percent discount on jewelry, in the display cases lie the orphaned cushions on which ear studs, rings, necklaces and co. were displayed, the grille protecting the entrance door has been pulled down - anyone who wants to visit the Goldwelt branch at Landstraße 35 in Linz is faced with closed doors.

Exactly the same thing is happening to customers at the stores in the SCW in Salzburger Straße in Wels, in LentiaCity in Linz-Urfahr and in the Varena in Vöcklabruck - they too are now all locked.

After restructuring proceedings were opened against Goldwelt Juweliere & Uhrmacher GmbH from Linz on January 14, restructuring administrator Christopher Schuster quickly drew the necessary conclusions. In addition to the stores mentioned above, a further five stores in Graz-Seiersberg, Villach, Vösendorf, Vienna and Innsbruck were closed.

Sales in Pasching, Klagenfurt, Innsbruck and Salzburg
The Goldwelt stores in PlusCity in Pasching, in the City Arkaden shopping center in Klagenfurt, in dez in Innsbruck and in Europark in Salzburg are still open. Why are they still open? Because Schuster is deliberately carrying out the sales at the stores with the highest footfall. The hope is that this will generate more proceeds for the creditors. Talks with investors are also taking place in the background. The online store is still active. On the company's website, customers are also unaware of the economic problems.

According to KSV1870, 60 employees were working at the traditional company when the restructuring proceedings were opened. The restructuring plan talks about offering creditors a 20 percent quota. This is to be paid within 24 months of the restructuring plan being accepted.