Application to initiate two restructuring proceedings without self-management
Gössl GmbH, FN 61591a
Morzgerstraße 31
5020 Salzburg
Gössl Gwand GmbH, FN 48942z
Morzgerstraße 31
5020 Salzburg
respectively application for restructuring proceedings without self-administration at the Salzburg Regional Court. Both companies are to be continued and restructured. Expected to open soon.
the statutory minimum quota of it should be given to the unsecured creditors 20% each within two years of acceptance of Redevelopment planan application will be offered.
“Our association examines the suitability and feasibility of the quotas offered and will work to increase the quotas if necessary,” so Bellou.
• The objective of the respective companies:
As is well known, this is the case “Gössl GmbH” about a conventional Salzburg buisness run by the third generation. The Salzburg traditional company was founded in 1947 and, together with othre traditional companies, is a leader in traditional clothing. Gössl GmbH performs – among other things – product growth and production of fashion and clothing collections.
death Gössl Gwand GmbH active in the clothing retail business. A framework agreement was established between Gössl GmbH and Gössl Gwand GmbH, which includes various services such as deliveries of goods, etc. The trademark rights are held by Gössl Trachten GmbH, which has no operational activities and is NOT(!) insolvent.
“The clothing industry,especially in the traditional clothing industry,has faced bankruptcies in the state of Salzburg in recent years. The former H.Moser Clothing GmbH was able to successfully restructure itself. Schneiders Clothing GmbH and habsburg kleidermanufaktur GmbH were not continued, but instead the existing assets were liquidated. In these proceedings, the creditors receive a significant distribution quota, which in today’s terms will be in the double-digit percentage range. Now Gössl GmbH and Gössl Gwand GmbH are affected by insolvency. We hope that the traditional company will continue positively and,consequently,with a significant quota mainly for the creditors concerned,and also preserving the locations and jobs.” said Bellou, regional manager of KSV 1870 in Salzburg.
Gössl GmbH
• Managing Director/Managing Partner of Gössl GmbH:
GF: MMag. Maximilian Gössl, born june 20, 1984, has been acting independently since May 6, 2021.
Shareholder: Gwandhaus GmbH (FN 53659 k) and the Gössl Privatstiftung (FN 203698g) have almost equal shares.
• Creditors concerned: around 190
• Affected employees: around 46
• Active: EUR 2,028,634.65 million if continued
• Passive: EUR 9,602,322.32 million if continued
• Reason for bankruptcy: According to the debtorin, it faced loan defaults. Sales fell short of expectations. Customer buying behaviour has changed. The energy crisis and the personnel situation in the company were among the reasons for the insolvency. Finally the debtor had to admit his insolvency.
Gössl Gwand GmbH
• Managing Director/managing Partner of Gössl Gwand GmbH:
GF: MMag. Maximilian Gössl, born June 20, 1984, has been acting independently since December 3, 2014.
Shareholder: MMag. maximilian Gössl,100% shareholder.
• Creditors concerned: around 75
• Affected employees: a total of 81, including 53 in Austria and 28 in Germany.
• active: EUR 932,306.90 if continued
• Passive: EUR 4,026,429.06 million if continued
• Reason for bankruptcy: According to his own information, the debtor is naturally intertwined with Gössl GmbH as a customer and sales partner. External economic burdens affected the debtor’s sales.
The economic outfinancial supportthe problems faced by Gössl GmbH (obstacles in the supply chain) also had a direct financial impact on the debtor. The range of goods and thus of business activities was restricted.
From now on,creditor claims can be registered in both cases via KSV1870 – email: [email protected]
The information could not be verified with KSV1870 in such a short time.
Salzburg,December 11,2024
Questions:
Mag. aliki Bellou & Insolvenzteam Salzburg
Country manager and insolvency manager
Credit Protection Society as 1870
5020 Salzburg, Helbrunnerstrasse 15/1
Telephone: 050 1870-5010
How can companies effectively communicate their restructuring plans to stakeholders and creditors?
Interview Between Time.news editor and Restructuring Expert on Gössl GmbH and Gössl Gwand gmbh
Time.news Editor: Good day, and thank you for joining us. Today, we have an expert in corporate restructuring, Dr. Anna Klein, to discuss teh recent application for restructuring proceedings of Gössl GmbH and Gössl Gwand GmbH. Dr. Klein, welcome.
Dr. Klein: Thank you for having me. It’s a pleasure to be here.
Editor: Let’s get right into it. Gössl GmbH,a long-standing traditional clothing business founded in 1947,along with its subsidiary Gössl Gwand GmbH,is undergoing restructuring in the Salzburg Regional Court. Can you help us understand the context of these proceedings?
Dr. Klein: Absolutely. Restructuring proceedings like these are frequently enough initiated when a company faces financial distress but believes it can still be viable. In this case, both Gössl companies are aiming to continue their operations while rethinking their strategies to return to profitability. The fact that they are seeking restructuring without self-governance suggests they are looking for court-supervised guidance during this process.
Editor: I’ve read that there’s a minimum quota of 20% for unsecured creditors to be paid within two years of the acceptance of their redevelopment plan. why is this quota crucial?
Dr. klein: The quota is important because it establishes a baseline for creditors, ensuring they will receive at least a portion of what they are owed. A minimum quota helps in maintaining trust among creditors and can facilitate negotiations. If creditors see a clear plan that promises them some return, they might be more inclined to support the restructuring efforts.
Editor: Bellou, presumably a spokesperson for the creditors, mentioned that they will examine the quotas offered and may work to increase them if necessary. What does that process look like?
Dr. Klein: It’s quite a collaborative effort. The creditors’ committee reviews the redevelopment plan and assesses the feasibility of the proposed quotas. They may push for adjustments based on the companies’ potential recovery and financial performance. This negotiation can be crucial to ensure that all stakeholders, including creditors, feel confident moving forward.
Editor: Gössl gmbh is described as a leader in traditional clothing alongside other companies in the sector. How does being part of a traditional market influence its restructuring efforts?
Dr.Klein: Being part of a traditional sector presents unique challenges and opportunities. On one hand, these businesses frequently enough have loyal customer bases and established brand recognition, which can be leveraged during restructuring. on the other hand, they may face market pressures from fast fashion and changing consumer preferences. Gössl’s challenge will be to innovate while maintaining its identity as a traditional company.
Editor: You mentioned innovation. What strategies could the companies pursue to ensure a accomplished turnaround?
Dr. Klein: They might consider diversifying their product offerings or implementing enduring practices to appeal to modern consumers.Investing in e-commerce, enhancing customer experience, or collaborating with local artisans to create unique collections could also reinvigorate their brand. Ultimately, aligning their offerings with current market trends while staying true to their heritage will be crucial.
Editor: This is very insightful, Dr. Klein. As we wrap up, what advice would you give to other businesses considering restructuring?
Dr. Klein: I would advise companies to be proactive and honest about their situation. Engaging with stakeholders, including employees and creditors, early in the process can lead to better outcomes. It’s also vital to have a clear and strategic plan that outlines how they intend to achieve sustainability and growth post-restructuring.
Editor: Thank you, Dr.Klein.Your insights into the restructuring process of these iconic companies are invaluable. We look forward to seeing how Gössl GmbH and Gössl Gwand GmbH navigate their path forward.
Dr.Klein: Thank you for the chance to discuss this important topic.It’s crucial for the future of these companies, and I believe they have the potential to emerge stronger.
editor: And thank you to our audience for joining us. Stay tuned for more updates on this developing story.
