Location of affected unit(s)
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Other Household Equipment In Specialised Stores
47.54 - Retail sale of electrical household appliances in specialised stores

579 jobs
Number of planned job losses
Job loss
Announcement Date
2 April 2013
Employment effect (start)
8 April 2013
Foreseen end date
8 September 2013


The Austrian electronics retail chain Niedermeyer is to cut 279 jobs. Due to the insolvency of the company, 53 out of 98 stores as well as some units at its headquarters will be closed.

Their last open day was 6 April, which was also the last day of work for the employees to be made redundant. However, terms of notice of up to 5 months have to be observed.

Reasons for the insolvency as mentioned are a drop in sales due to the negative economic situation as well as corporate characteristics like the extensive network of shops.

Management is conducting talks with potential new investors and wants to implement a strategic reorientation of the company.

Updated, 29/05/2013: The insolvent Austrian electronics retail chain Niedermeyer is to liquidate its business, thereby closing all remaining 45 stores and making 300 employees unemployed. The company, which had filed for insolvency two months ago, already cut its workforce by half and closed half of their stores in April 2013.

The restructuring plan foresaw the continuation of 45 companies with 300 employees with the help of an investor. However, negotiations with potential partners and investors were unsuccessful and had to be called off, making the liquidation necessary.

The main reason for the bankruptcy is the difficult market environment. The company has liabilities of about EUR 29 million. The majority of the remaining stores are to be closed by 8 June. Talks between management and trade unions have started. The liquidation of the company will take place over the course of the next few weeks.


  • 2 April 2013: Wirtschaftsblatt
  • 31 May 2013: Der Standard
  • 2 April 2013: Die Presse
  • 29 May 2013: Die Presse


Eurofound (2013), Niedermeyer, Bankruptcy in Austria, factsheet number 75212, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75212.