Fight for the future

After bankruptcy: further branches on the brink of closure

The branch in Landstraße in Linz is closed.

(Bild: Horst Einöder/Flashpictures)

The origins of the family business, now in its fourth generation, date back to 1934 - but now there is a question mark over the continued existence of Goldwelt Juweliere & Uhrmacher GmbH. Following the closure of nine branches of the Linz-based jewelry retailer, which has slipped into insolvency, further stores are now likely to be closed.

What's next for Goldwelt Juweliere & Uhrmacher GmbH from Linz? The fourth-generation family business has been in receivership since mid-January. Since then, nine branches have been closed, including those in the LentiaCity in Linz-Urfahr, in the SCW in Wels and in the Varena in Vöcklabruck. The Goldwelt store in Landstraße in Linz has also been closed since then - and looks downright deserted. A grille protects the entrance door.

More than 3.4 million euros in claims recognized
At the first meeting of creditors, liquidator Christopher Schuster has now drawn up an initial interim balance sheet. 3.426 million euros in claims have been recognized so far, and the company has been reduced to its current 20 employees. According to KSV1870, Goldwelt Juweliere & Uhrmacher GmbH still had 60 employees when insolvency proceedings were opened.

Talks are currently underway with interested parties who could take over the running of the business. The sale of goods is still ongoing, but further store closures are apparently on the cards. Four stores are currently still open: those in PlusCity in Pasching, in the City Arkaden shopping center in Klagenfurt, in the DEZ in Innsbruck and in Europark Salzburg.

In any case, there is now a little more time than originally thought to secure financing for the restructuring plan. The restructuring plan hearing at the Linz regional court has been postponed from the end of April to May 27. The creditors are being offered a 20 percent quota.