KTM and Car Collection in the crisis: 500 dismissals threaten!

KTM and Car Collection in the crisis: 500 dismissals threaten!

Another company in Upper Austria has deleted the sail: Car Collection GmbH from Schwertberg, which specialized in the trade and repair of classic cars, has filed for bankruptcy. Despite all the attempts, the hoped -for sales success failed to materialize, so that a renovation procedure without self -administration was ultimately opened at the Linz Regional Court. The liabilities amount to alarming 625,800 euros, while the assets are only 185,000 euros, as the creditor protector AKV reports.

Heavy blow for the classic car lovers

The Car Collection GmbH, which was known for historical vehicles such as Porsche, Ford Mustang and Lamborghini, among other things, and was already taking over the representation of the luxury brand Morgan in Austria in 2021, has been faced with difficult market conditions in recent years. "In the past, we were able to compensate for poorer business results through financial resources from the shareholders or through cost savings," said the company, but had to recognize that the current economic situation no longer allowed this. After the opening of the insolvency proceedings, a new owner will be sought to take a new start, because the company is not planned.

With the bankruptcy of Car Collection GmbH, 57 creditors are affected. Most recently, the company only employed two employees. The decline of the company illustrates the tense economic conditions in the region, which moves numerous companies into the abyss, as the bad news of other companies already show. The developments around Car Collection GmbH are symptomatic of the challenges with which the Upper Austrian economy is currently fighting, as can also be observed at KTM, where 500 further dismissals are expected in the near future, reports Today.at .