2023-11-30 11:14:35
The Viennese fashion chain Jones is insolvent once more. The company, which has 33 locations across Austria and 140 employees, submitted an application to the Vienna Commercial Court on Thursday to initiate restructuring proceedings without self-administration, the company announced. The fashion label had already filed for bankruptcy in 2019, but was continued therefollowing. This time too, Jones is aiming for a continuation. The corona crisis and higher costs led to another bankruptcy.
“The negative effects of the corona pandemic and the associated change in customer behavior as well as the recent sharp increase in cost structure, which is putting a massive strain on all stationary retail, have led to this difficult situation, which can only be overcome through relief in a judicial restructuring process.” Managing director Gabor Rose was quoted in a press release. The company estimated the inflation-related additional costs in the areas of energy, salaries and rents at 1.3 million euros.
In the future, online trading in particular will be promoted. The online shop will be completely reorganized by January 2024.
The liabilities amount to 3.5 million euros. Creditors should be offered a quota of 20 percent.
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