Chapter proceedings have been opened in Vienna on Thursday over the property of the Austrian style chain Scotch and Soda. The reason being the chapter proceedings of the Dutch guardian firm – the Scotch & Soda Group operated by the Dutch S&S Europe BV, which have been opened on Wednesday.
The enterprise mannequin was based mostly on the sale of clothes below the textile manufacturers Scotch & Soda, Scotch & Soda Amsterdam Couture, Scotch P’tite, Maison Scotch La Femme Selon Marie, Maison Scotch, Scotch Shrunk, Scotch R’Belle. In keeping with the Credit score Safety Affiliation of 1870, the full liabilities are round 1.1 million euros. 24 collectors and 22 staff – in branches in Vienna and within the Parndorf outlet middle – are affected by the chapter.
“The insolvency administrator must rapidly study whether or not the corporate can proceed or whether or not closure is unavoidable. KSV1870 has not but obtained any additional data as as to whether restructuring is deliberate,” mentioned Jürgen Gebauer from the Credit score Safety Affiliation.
