Founded this year: Fashion chain Panthax is insolvent

The Austrian fashion chain Panthax is insolvent. The company filed for bankruptcy at the Vienna Commercial Court on Monday, as reported by the creditor protection associations KSV1870 and AKV. Panthax GmbH is indebted to around 220 creditors with approximately 1.5 million euros, and 56 employees are affected by the insolvency. The company was only founded in January 2025, and operations are not to be continued.

Revenues not as expected

The company previously sold fashion and lifestyle items at ten locations. It operated one store in Salzburg, four in Vienna, two in Lower Austria, two in Upper Austria, and one in Styria.

The insolvency was caused by a combination of several factors. According to AKV, revenues fell significantly short of expectations, even during high-sales periods such as the start of the school year and the Christmas season. Additionally, unexpectedly high construction and expansion costs, as well as high fixed costs, further burdened the company, while revenues were insufficient to cover these expenses.

(APA/Red)

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