Insolvency drama: Upper Austria's car dealer has to close!

Insolvency drama: Upper Austria's car dealer has to close!

In a spectacular turn, various car dealers must register bankruptcy due to financial turbulence. Car Collection GmbH, a dealer based in Upper Austria, has to close its doors. The company, which sells historical vehicles, reported bankruptcy and the continuation of the company is not planned. According to the Alpine Officer Association (AKV), 57 creditors have claims, the total debt of which amounts to over 625,000 euros. The economic Situation was so deteriorated this year that the step to register the bankruptcy was essential, as those responsible said who had previously tried to keep the company above water through financial support from the shareholders.

diving with cars and millions disappeared

similarly dramatic scenes also take place in Lower Saxony. A car dealer from Helmstedt apparently searched for the width here, while he cheated on 40 cars and half a million euros. The police report that the dealer simply dipped due to the impending bankruptcy and its customers are now in a desperate location. Insolvency lawyer Tobias Hartwig explained that the vehicles have almost disappeared overnight. The investigation by the Braunschweig public prosecutor's office is on the basis of fraud and infidelity. The police are increasingly receiving reports from betrayed customers who had left their cars for mediation with the dealer.

The situation seems chaotic: In a review, the insolvency administrator found that instead of the planned 500,000 euros, only a few cents were found in the cash register. Despite all the efforts to localize the missing cars and money, the question of the whereabouts of the dealer and its property has so far remained unanswered. The employees of the Helmstedter car dealership have been released and are now waiting for whether and when the bankruptcy proceedings are opened to possibly receive bankruptcy money.