2023-08-11 09:04:00
A week following Zentrasport had applied for a restructuring process with self-administration, this was opened on Friday at the regional court in Wels. This was reported by the creditor protection associations KSV1870 and Creditreform.
131 employees and around 450 creditors are affected. Liabilities amount to around 69 million euros, compared to assets of 39 million euros. The company will continue. Creditors are offered a restructuring plan with an unusually high rate of 60 percent, payable within two years.
Zentrasport is the cooperative of Sport 2000 dealers. The latter are not affected by the bankruptcy. They should continue to be supplied with goods. In order to ensure this, the business model was changed to central settlement by the German DZB Bank in August.
As reported, Zentrasport slipped into a liquidity crisis due to overfull warehouses and the bankruptcy of the Styrian dealer Geomix, with which it had worked.
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