2024-09-10 04:08:51
After the bankruptcy of the voucher provider Jollydays, competitors are trying to calm things down. The redemption of “WellCards” and “spa vouchers” is “guaranteed,” they said in response to an APA inquiry. The German experience voucher provider Jochen Schweizer, who is also active in Austria, referred to “strong investors in the background.” The voucher providers are not expecting a drop in Christmas business and are currently not seeing an increase in the redemption of the vouchers that have already been purchased.
For the Viennese retail expert and market researcher Andreas Kreutzer, the bankruptcy of Jollydays “was actually not foreseeable”. What was striking, however, was “that the marketing measures were recently scaled back quickly” and that voucher sales were apparently declining as a result. “It is also possible that the business with vouchers for adventure activities has exhausted itself in general,” said Kreutzer. In principle, vouchers are an “important sales instrument for retail, as well as for restaurants and hotels, and are responsible for 15 to 30 percent of sales, depending on the sector”. The expert estimates that up to 35 percent of vouchers are not redeemed, especially vouchers under 100 euros.
Some voucher buyers and owners are now unsettled by the Jollydays bankruptcy. “The redemption of WellCard vouchers can be guaranteed,” said WellCard managing partner Michael Semmler to the APA. WellCard is currently recording “no extraordinary increase in voucher redemptions at all.” The “Thermengutscheine” provider emphasized that vouchers can be redeemed “100 percent.” The Jochen Schweizer mydays Group described itself as “liquid” and referred to the ProSiebenSat.1 Group as a “financially potent and reliable shareholder.” The last annual financial statements of Jochen Schweizer GmbH date from 2020. At that time, according to the commercial register (“Wirtschafts-Compass”), an annual loss of EUR 6.7 million was reported.
The voucher providers do not expect the Jollydays insolvency to have any impact on their business in the fall and at Christmas. “Jollydays has been far from being a leading voucher provider in recent years. Therefore, purchasing behavior will not really change,” said WellCard shareholder Semmler.
Jollydays sold vouchers for thousands of different activities, from skydiving to spas or short vacations, on its website. They were then redeemed by the respective experience provider. When filing for bankruptcy in mid-August, the experience voucher seller stated liabilities of 8.6 million euros and assets worth around 100,000 euros. The AK Upper Austria expects “thousands of voucher owners to be affected.” Over 100 people affected by the Jollydays bankruptcy have already reported to the AK OÖ.
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– What steps should voucher holders take following the Jollydays bankruptcy?
Table of Contents
Jollydays Bankruptcy: Competitors Offer Reassurance, But What’s Next for Voucher Holders?
The insolvency of Jollydays, a Vienna-based voucher provider, has sent shockwaves through the industry, leaving many voucher holders wondering what’s next. However, competitors are trying to calm things down, assuring customers that their vouchers are safe.
According to the AK Consumer Protection, voucher holders can register their claim in bankruptcy proceedings until October 10, 2024, by paying a fee of 25 euros [[1]]. This move comes after the Vienna Commercial Court opened bankruptcy proceedings against Jollydays GmbH on Friday [[2]].
Retail expert and market researcher Andreas Kreutzer noted that the bankruptcy of Jollydays was not entirely unforeseen, citing the company’s recent scaling back of marketing measures and declining voucher sales [[3]]. Kreutzer estimates that up to 35% of vouchers are not redeemed, especially those under 100 euros.
In response to the concerns, competitors are offering reassurance. WellCard managing partner Michael Semmler guaranteed the redemption of WellCard vouchers, while the “Thermengutscheine” provider emphasized that vouchers can be redeemed “100 percent.” The Jochen Schweizer mydays Group described itself as “liquid” and referred to the ProSiebenSat.1 Group as a “financially potent and reliable shareholder.”
Despite the Jollydays insolvency, voucher providers do not expect a drop in Christmas business. They argue that Jollydays has not been a leading voucher provider in recent years, and therefore, their business will not be significantly impacted.
For voucher holders, the situation remains uncertain. While competitors are offering reassurance, it’s essential to take proactive steps to ensure that their vouchers are redeemed. Those affected by the bankruptcy should register their claim in the bankruptcy proceedings and stay informed about the developments.
In the meantime, the industry is left to ponder the implications of Jollydays’ bankruptcy. Will this event mark a shift in the voucher market, or is it a isolated incident? Only time will tell.
What’s Next for Voucher Holders?
If you’re a voucher holder, here are the key takeaways:
Register your claim in the bankruptcy proceedings by October 10, 2024, by paying a fee of 25 euros.
Contact your voucher provider to inquire about the redemption process and any guarantees they offer.
* Stay informed about the developments in the bankruptcy proceedings and any updates from your voucher provider.
For those considering purchasing vouchers, it’s essential to do your research and choose a reputable provider with a strong financial backing.
Conclusion
The bankruptcy of Jollydays serves as a reminder of the importance of due diligence in the voucher industry. While competitors are offering reassurance, voucher holders must take proactive steps to ensure that their vouchers are redeemed. As the industry moves forward, one thing is clear: transparency and financial stability will be crucial in building trust with customers.
References:
Jollydays Bankruptcy: Competitors Offer Reassurance, But What’s Next for Voucher Holders?
The bankruptcy of Jollydays, a Vienna-based voucher provider, has sent shockwaves through the industry, leaving many voucher holders wondering what’s next. However, competitors are trying to calm things down, assuring customers that their vouchers are safe.
What’s Next for Voucher Holders?
According to the AK Consumer Protection, voucher holders can register their claim in bankruptcy proceedings until October 10, 2024, by paying a fee of 25 euros [[1]]. This move comes after the Vienna Commercial Court opened bankruptcy proceedings against Jollydays GmbH on Friday [[2]].
Retail expert and market researcher Andreas Kreutzer noted that the bankruptcy of Jollydays was not entirely unforeseen, citing the company’s recent scaling back of marketing measures and declining voucher sales [[3]]. Kreutzer estimates that up to 35% of vouchers are not redeemed, especially those under 100 euros.
Competitors Offer Reassurance
In response to the concerns, competitors are offering reassurance. WellCard managing partner Michael Semmler guaranteed the redemption of WellCard vouchers, while the “Thermengutscheine” provider emphasized that vouchers can be redeemed “100 percent.” The Jochen Schweizer mydays Group described itself as “liquid” and referred to the ProSiebenSat.1 Group as a “financially potent and reliable shareholder.”
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