Hoschek operates two locations. Creditors receive a maximum of 20 percent of their claim. Conditions such as the CoV pandemic, ongoing delivery difficulties and delays made it necessary for the Austrian fashion company Lena Hoschek GmbH to take the matter to the Vienna Commercial Court.
“The clear goal is to continue with the company,” said a company spokesman. This step was necessary to ensure the long-term future of the company. “We did not make this decision lightly, but given the current challenges, we have reached a point where I, as a responsible entrepreneur, must apply for restructuring proceedings,” Hoschek said in a press release.
Several reasons given
“First and foremost, it’s about securing the future and, above all, jobs.” According to Hoschek, he wants to do “everything he can to restructure Lena Hoschek GmbH, to put the company back on a stable footing and to set up our business successfully. a brand to lead the future.”
As Creditreform reports, wages were paid until August, and Hoschek, who was born in Graz, did not have a works council. The liabilities are therefore just under three million euros. It is expected to sell 6.6 million euros in the financial year 2023/24. Credit Protection Society 1870 (KSV1870) put the liabilities at 7.5 million euros.
According to the information, the reasons for the request are based on several factors: Continuous delivery difficulties have had a major impact on operational business in recent months. In addition, there were burdens due to required prepayments, the deterioration of financing conditions and legacy issues from the CoV Pandemic, which remained a concern for the company.
A reformed concept at the table
Lena Hoschek GmbH has developed a “comprehensive restructuring concept for the continuation of the company”. “We are optimistic that we can take the necessary steps to stabilize the company and continue successfully in the long term.” The aim is, among other things, to maintain the previous business relationships to “put the company back on the right track to grow and emerge stronger from this process,” said Hoschek.
An integral part of the restructuring plan is the unimpeded continuation of business operations. Her company will record continued sales growth until 2023.
Shops in Graz and Vienna
The internationally recognized fashion company based in Vienna operates stores in Graz and Vienna as well as an online and wholesale store for approximately 95 retail partners. Hoschek’s business was established as a sole proprietor in 2005.
According to its own statement, the premium brand stands for “slow fashion, women’s empowerment and an unmistakable design signature”. The fashion is characterized by “high-quality craftsmanship, timeless design and sustainable production methods in Europe,” he continues.