Bitter bankruptcy of an ambitious motorsport promoter

About the assets of the BG Sportpromotion GmbH based in Spielberg, Styria, restructuring proceedings without self-administration were opened at the Leoben regional court today, Thursday, based on a self-application. That confirms Outside Beroun from the Austrian Association Credit reform the COURIER. The company currently employs one employee. Previously there were five employees

The company is involved in the organization, marketing, promotion and implementation of motorsport events.

The causes of bankruptcy

According to the application, initial losses could not be sustainably financed by later profits.

Debts and assets

The assets amount to 58,000 euros, the liabilities 228,000 euros. According to the list of creditors, around 45 creditors are affected by the bankruptcy. According to the commercial register, the liabilities in the 2024 financial year were around 560,000 euros, the accumulated loss was 438,000 euros and the negative equity was around 433,000 euros.

The future

The company offers creditors a 20 percent restructuring plan quota payable within two years of acceptance. The restructuring plan will be further adapted. Attorney Michael Voitle was appointed as insolvency administrator.