Car dealer in Steyr went bankrupt

2023-08-09 16:04:00

The KSV1870 announced on Wednesday that bankruptcy proceedings were opened at the Steyr regional court over the assets of the company, which was founded in 2021. Assets of 684,000 euros are offset by liabilities of 1.8 million euros, with a cap of around 505,000 euros. 17 employees and 85 creditors are affected.

The company was involved in the trade in new and used cars and was registered as a specialist dealer and workshop for the brands Peugeot, MG Motors, Maxus and Ligier-Microcar. As reported by KSV1870, the reasons for the bankruptcy are the economic downturn and high inflation, which first led to delivery problems and then to a sales crisis in the car trade and to an increase in energy and financing costs.

The company has not yet closed, but a restructuring should not be possible due to a lack of sufficient liquid funds, according to the KSV.