After 123 van bankruptcy: fleet operator also insolvent

“A fleet partner contract was signed with 123 Shared Mobility GmbH on December 14, 2021. 123 Shared Mobility GmbH rented small vans of up to 3.5 tons to consumers and entrepreneurs via an internet portal under the brand “123 Transporter”. These vans were leased from WEBA GmbH and rented to 123 Shared Mobility GmbH. By fall 2025, over 370 vehicles were in use,” the application states.

Insolvency proceedings were opened on 123 Shared Mobility GmbH on October 6, 20025, during which the restructuring plan was withdrawn.

Serious allegations

“This insolvency application was preceded by massive difficulties that 123 Shared Mobility GmbH had with its customers, which also received wide media coverage throughout Austria. Deposits were not paid back or were only paid back after an express request and very late,” the WEBA insolvency application claims. “123 Shared Mobility GmbH has also started to double-charge damages supposedly caused by the customer or to impose a fine on them if, for example, speeding violations have emerged from the recorded vehicle data. This is regardless of whether there was a traffic ticket for this violation or not.”

123 Shared Mobility GmbH is said to have previously unjustifiably reduced the debtor’s outgoing invoices and transferred them late. In a letter dated August 25, 2025, 123 Shared Mobility GmbH is said to have terminated the fleet partner contract with the debtor without due notice and without justification. According to reports, 123 vans deny the allegations.

Sales developments below expectations

“The debtor was therefore faced with the situation of having to finance around 370 leased vehicles per month without them being used and generating any income. The management has agreed on an initial restructuring concept with the lessor,” the application continues. “Some of the vehicles were confiscated by the leasing company and sent for recycling. The existing business area was to be reworked with other vehicles. However, it turned out that sales developments fell short of expectations. On the one hand, this is due to the after-effects of 123 Shared Mobility GmbH’s dealings with its customers, and on the other hand it is also due to seasonal reasons.”

Debts and assets

The liabilities are valued at 1.075 million euros and the assets at 207,000 euros. The claims against 123 Shared Mobility GmbH amounting to 3.942 million euros are considered “irrecoverable”.

No future

Debt relief should not be planned. However, the decision-making process has not yet been completed, according to Weba GmbH.