Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Alphagold, a traditional Austrian wholesaler of jewellery and watches, has filed for insolvency, affecting 101 employees in its Austrian stores.
In total, 108 employees are affected, 101 of them in Austria and 7 in Germany: Alphagold 2024 - EU.
As the main reasons for insolvency, the company cites the changed framework conditions for the retail sector since 2015 as a result of digitalisation and the conditions during the pandemic.
The company is based in Linz and operates 32 branches of the "Le Clou" and "Juwelier Reiter" brands in Austria. During the pandemic, the company received coronavirus aid for 2020, 2021, and 2022, which was mainly used to repay loans, as well as deferrals. Alphagold is headquartered in Linz and runs 32 retail outlets across Austria and two in Germany.
Eurofound (2024), Alphagold, Bankruptcy in Austria, factsheet number 200850, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200850.
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