The insolvent jeweler and watchmaker chain Goldwelt is closing nine of its total 13 branches in Austria, according to KSV1870 to the APA following a report by the "Krone" (Friday edition).

Goldwelt Starts Clearance Sale After Insolvency

In the remaining stores for the time being - four high-traffic locations in shopping centers in Pasching near Linz, Klagenfurt, Innsbruck, and Salzburg - the clearance sale is underway. They expect higher proceeds for the insolvency creditors from this than, for example, through a bulk sale. At the same time, discussions are being held with potential investors. Goldwelt filed for the opening of a reorganization procedure without self-administration at the Linz Regional Court in mid-January. 60 employees and around 43 creditors are affected by the insolvency.

(APA/red)

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