Insolvency shock: fashion chain Schanda in Wels, Kirchdorf and Steyr!

Insolvency shock: fashion chain Schanda in Wels, Kirchdorf and Steyr!

Kirchdorf an der Krems, Österreich - The fashion chain Schanda Mode GmbH initiated a renovation process with self -administration on July 2, 2025. The branches in Wels, Kirchdorf and Steyr are affected by the bankruptcy. A total of 13 employees and around 15 creditors are affected. The company is faced with over -indebtedness of around 1.26 million euros, since the yields were not sufficient to repay existing funding loans on time. A renovation plan that provides for a creditor rate of 30 percent has already been proposed. This quota should be paid within two years. In order to cover the running costs, Schanda Mode GmbH plans to provide Liquide funds of 200,000 euros and a forecast surplus of 170,000 euros through warehouse removal, such as [Tips] (https://www.tips.at/nachrichten/kirchdorf/wirtschaft-politik/689639-modekette-schanda-in-insolvenz-in-in-wels-kirchdorf-und-steyr

The situation is not only tense for Schanda Mode. The Austrian economy is generally faced with growing bankruptcy figures. In particular, the great bankruptcy of the Signa Holding by investor René Benko represents another shock. The Signa Holding's liabilities amount to an estimated 5.005 billion euros, while over -indebtedness is around 4.942 billion euros. This becomes the greatest bankruptcy in Austria's history. For other companies in the group, such as Signa Prime Selection AG and Signa Development Selection AG, this could also have serious consequences, such as Kurier reports.

growing insolvency numbers

Unfortunately, the trend towards bankruptcy registration is not new. According to statistics, over 21,800 companies in Germany filed for bankruptcy in 2024, which corresponds to an increase of 22.4 percent compared to the previous year. This increase reflects the challenges with which many companies are faced with current and previous crises. Applications often come from companies that have been on the market for several years. Many formerly independent entrepreneurs are also forced to make bankruptcy applications, which indicates that economic uncertainty is deeply rooted in society, as IFM

The employment situation in Austria could also be influenced by these developments, especially in industries that depend heavily on consumption and retail. The procedure at Schanda Mode is observed closely because the future of the affected branches depends on the implementation of the proposed renovation plan. In times when company is fighting for survival, brisk dialogue and close cooperation between companies and creditors are decisive.