123-Transporter filed for insolvency

Creditors are being offered a quota of 20 percent within two years, the company announced. Thousands of complaints regarding debits have been received by the Chamber of Labor (AK), and the judiciary is investigating following reports.

123-Transporter provided IT infrastructure and platform technology for the handling of car sharing and rental, with the 419 transporters used in Austria being provided by a partner, it was stated. The insolvency was justified as follows: "The exclusive fleet partner has withdrawn almost all vehicles from the system in breach of contract, both systemically and physically, without warning. This abruptly made the business basis of the company in Austria impossible, as vehicle rental was no longer possible." Furthermore, the management of 123 Shared Mobility GmbH explained: "We are working intensively on a solution for the future, as the business operation in Austria cannot currently be continued in its previous form due to recent events."

Markets in Czech Republic, Slovakia, and Hungary not affected according to the company

The business activities in the Czech Republic, Slovakia, and Hungary are running independently in terms of corporate law, the company announced: "These foreign markets are independent licensees and therefore continue to operate without restrictions. The countries are not affected by the developments in Austria."

In recent years, numerous affected individuals have contacted the AK. They had, for example, deposits and contractual penalties debited for speeding or smoking in the vehicle. The public prosecutor's office in Wiener Neustadt is investigating the managing director of 123 Shared Mobility GmbH for serious commercial fraud and embezzlement. Recently, partners like the hardware store chain Obi have announced the termination of their cooperation with 123-Transporter.

Deposit repayment claims in the millions

According to Creditreform, about 70 creditors and "a large number of customers," who also have claims from deposit repayments, are affected by the insolvency. Currently, five employees are employed in the company. The liabilities amount to around 4.7 million euros. "The majority of this results from deposit repayment claims from customers," the creditor protection association reported. According to Wirtschaftscompass, the company already had negative equity of around 640,000 euros at the end of 2023.

(APA/Red)

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