The downfall of a classic bookstore and a toy store

The downfall of a classic bookstore and a toy store

A total of 26 employees and around 570 creditors have been impacted by the bankruptcies of several companies belonging to the Meritas Holding GmbH group. The bankruptcies were attributed to various factors such as rising costs that could not be passed on to customers, strong online competition, and accounting problems.

Spieleparadies Handels GmbH, a toy company, Bookstore W. Neugebauer GmbH, a traditional bookstore, and Melanie Hofinger GmbH, a books and gifts retailer, have all filed for insolvency proceedings at the Linz Regional Court. The insolvencies were confirmed by Creditreform, AKV, and KSV1870.

Melanie Hofinger GmbH experienced accounting issues that led to negative equity and insolvency. The company’s liabilities are around 1.9 million euros with a net loss of 514,500 euros. W. Neugebauer GmbH reported a loss of 453,300 euros and Spieleparadies Handels GmbH had liabilities of 388,300 euros with a balance sheet loss of 204,600 euros.

The companies cited factors such as the decline in reading pleasure post-Corona crisis, rising living costs, and managing multiple locations as contributing to their insolvency. The decision to close the bookstore and all three locations of Melanie Hofinger GmbH was made as part of the insolvency proceedings.

Overall, the bankruptcies have had a significant impact on employees and creditors, with details about the financial situations of the companies still being assessed.

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