Traditional company Gössl before bankruptcy: Credit drama causes excitement!

Traditional company Gössl before bankruptcy: Credit drama causes excitement!

The traditional traditional fashion company Gössl is faced with bankruptcy after the Bank Austria made loans in the amount of 3.4 million euros prematurely. This happened just a few weeks after the insolvency was announced on the part of the management, which are due to massive financial difficulties. Despite an estimated sales of 15 million euros this year and the employment of 113 employees, the company has been in debt, in particular through the economic effects of the Corona pandemic, such as Salzburg.orf reported.

The advisory management consultant Gerald Zmuegg comments on the critical situation and explains that about 10 percent of the bridging loans recorded during pandemic cannot be repaid. In particular, Zmuegg criticizes the role of the banks, which in his words, due to the premature due due position of the loans, get strongly into the conflict of interest, since they can only benefit from state guarantees in the event of bankruptcy. "It cannot be that in the event of bankruptcy, the bank is the only winner," continued Zmuegg, who is considering legal steps against the bank if no agreement is reached like the Kurier reported.

The explosiveness of the situation

Before the pandemic, Gössl was an economically healthy company, which, however, had to accept losses of almost 10 million euros due to the Corona Lockdowns. In a desperate attempt to secure liquidity, bridging loans with state guarantees were recorded. The pressure on the bank's pressure increasingly tightened the situation, which ultimately led to the transfer department of the bank. The memories of flowering business work seem to be far away for the managing director Maximilian Gössl, because despite all efforts, there are still massive contaminated sites from the Corona period. "Our business is open and will continue to stay open," emphasizes Gössl, who hopes that the Gössl brand will not be lost.