On Tuesday, restructuring proceedings without self-administration were opened at the Wels regional court over the assets of the traditional Seifried United car dealership in Grieskirchen. This is reported by the creditor protector KSV1870. The liabilities amount to 3.2 million euros, compared to assets of 1.4 million euros. 50 creditors are affected and are offered a quota of 20 percent within two years. Nine employees are employed. The car dealership has been around for more than 50 years.
The reasons lie in the high costs of the expansion to Wels, which did not bring the desired increase in sales. The location was closed again. In addition, there were high energy and wage costs, which could not be passed on in full, as well as a reluctance to buy. The managing partner Adolf Seifried wants to continue the dealership, which deals in new Hyundai cars as well as used cars and runs a workshop. Seifried is a panel representative for the vehicle trade in the Upper Austrian Chamber of Commerce.
