Million-dollar bankruptcy of the Austrian teleshopping subsidiary Mediashop

The creditors are offered a restructuring plan with a quota of 20 percent. The company announced that business operations will continue. A strategic investor is being sought. As part of the restructuring process, it is now being examined whether and to what extent other companies in the Mediashop Group are affected by the financial turbulence.

The last numbers

In the 2022/2023 balance sheet of Mediashop GmbH, which was most recently submitted to the commercial register, there was a drop in sales of 180.8 million euros to 138.1 million euros. The EBIT was put at minus 10.03 million euros and the annual loss at 9.39 million euros. However, due to the profit carried forward from previous years, there was a retained profit of 22 million euros. The liabilities were valued at 40.74 million euros, of which 17.35 million euros were due to affiliated companies. The equity amounted to 36.97 million euros.

“My shopping world”

The sales channel was founded in 1999 and sells products from the household, kitchen, fitness, health, beauty and lifestyle sectors. In recent years there have been profound changes in consumer behavior and an increasingly challenging market environment. According to its own information, Mediashop operates the TV channel “My Shopping World” and is present on 175 TV stations.

Group-wide annual sales are said to have recently been stable at around 170 million euros. A total of almost 400 employees would be employed in ten countries across Europe (Germany, Austria, Switzerland, Liechtenstein, Netherlands, Hungary, Czech Republic, Romania, Slovakia and Turkey). The headquarters for Austria is in Neunkirchen, where around 160 employees work on 2,700 m2.