Bitter bankruptcy of a well-known Viennese sales company

The debts are offset by assets in the form of inventory with a liquidation value of around 1.7 million euros, outstanding receivables amounting to 16.1 million euros and office equipment.

Several international sales subsidiaries

According to AKV, the company’s core business is to distribute branded TV products in Europe and internationally. To achieve this, the company works with a Chinese production partner. The company has several international subsidiaries for sales in Spain/Portugal, France/Benelux, Italy/Malta, the Middle East and Africa, and Asia.

The company cited a delivery stoppage by the main Chinese supplier as the cause of the bankruptcy. At the same time, talks with a possible investor failed. The company is to be closed after a limited period of business continuity and existing assets are to be liquidated.