The Austrian traditional costume specialist Gössl is insolvent. This confirmed reports from various media that had already picked up on the traditional company’s financial problems a few weeks ago.
According to the Austrian creditor protection association KSV1870, restructuring proceedings without self-administration were applied for at the Salzburg district court on Wednesday for the companies Gössl GmbH and Gössl Gwand GmbH.
The opening of the proceedings is “expected in the near future,” according to a statement. The two affected companies should therefore be “continued and restructured”. Gössl Trachten GmbH, which is not operational but holds the Gössl trademark rights, is “not at risk of insolvency,” emphasized the association.
The insolvency of Gössl GmbH, which is responsible for the development and production of the Gössl brand clothing collections, was due, among other things, to the repayment of loans and the recent disappointing sales development as a result of the changed purchasing behavior of customers, said KSV1870.
The retail company Gössl Gwand GmbH is “naturally intertwined with Gössl GmbH as a buyer and sales partner,” so that their problems had a direct financial impact on the company, the association explained.