407,000 euros in debt

KTM Museum’s personnel service provider is bankrupt

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17.02.2025 09:27

Eight days before the vote on the restructuring plan for motorcycle manufacturer KTM, which has slipped into insolvency, the next company associated with the Mattighofen-based company has gone bankrupt. With Convey X GmbH from Straßwalchen, restructuring proceedings have been opened via the KTM Museum's personnel service provider. This has no effect on operations in the Motohall, it is emphasized.

The list of insolvencies in the KTM environment was extended by another company on Monday, February 17. With Convey X GmbH from Straßwalchen, restructuring proceedings were opened via the personnel service provider for the KTM Motohall in Mattighofen. According to Kreditschutzverband von 1870, the liabilities of the company, which was founded in 2018, amount to just under EUR 407,000, compared to assets of EUR 33,000.

Restructuring measures initiated in the summer
What is to blame for the insolvency? We are talking about an unprofitable cost structure that was originally created and led to liquidity problems. Restructuring measures were initiated in the summer of 2024, but it was no longer possible to avert the reorganization proceedings.

Company only has one customer, KTM Motohall GmbH
15 employees and 20 creditors are affected by the insolvency of Convey X GmbH. The company is to be restructured and continued. The plan is to offer a 20 percent quota. "The applicant currently only has one customer, KTM Motohall GmbH. The surpluses generated from the continuation should also make a partial cash quota possible for the restructuring plan offered," says Petra Wögerbauer from KSV1870.

Operations at the KTM Motohall continue without restriction
Despite the service provider's application for insolvency, the KTM Motohall will continue to operate without any restrictions. There are also no changes or restrictions in terms of personnel and the building is fully open both as a museum and as an event location, KTM Motohall GmbH emphasizes.

Convey X GmbH is the seventh company in the KTM environment to go bankrupt in recent months. On November 29, 2024, restructuring proceedings were opened for KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH. On December 13, Vöcklabrucker Metallgießerei GmbH, a wholly owned subsidiary of KTM Components GmbH, slipped into bankruptcy. On January 7, Pierer E-Commerce GmbH and Avocodo GmbH, companies also directly affiliated with KTM, both filed for restructuring. Two weeks later, RJ-Werkzeugbau GmbH, a KTM supplier, went bankrupt!

This article has been automatically translated,
read the original article here.

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