The creditor protection association KSV1870 announced this in a broadcast on Friday. Sparta mainly worked as a subcontractor in the areas of property protection, event security, construction site security, entry controls and porter services.
According to KSV1870, the main cause of the bankruptcy is the takeover of the fixed and current assets of the Eggendorfer security service, which is also active in the industry. This company went bankrupt in 2023, affecting 130 employees.
The assets acquired there by Sparta have not proven to be of any value, it says in a press release. The acquired vehicles became defective within a short period of time and the customers they took over did not use Sparta’s services as hoped.
Assets of 7,000 euros are compared to liabilities of around 600,000 euros. There are no plans to renovate and the company will be closed, says Sonja Kierner from KSV1870.
