Published on August 16, 2024 at 5:15 pm
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Jollydays went bankrupt.
Jollydays went bankrupt.
Many people may be familiar with “Jollydays” from commercials. The company describes itself as the “No. 1 Experience Provider.” Now the company is bankrupt.
Van Sabrina Carpenter
2 minutes reading time(418 words)
The news on the Jollydays GmbH website already gives an idea of how the company is doing financially. “Service Interruption: Currently only redemption of vouchers is possible,” it said. On Friday afternoon came the news from creditor protection association KSV 1870: “Jolidays GmbH is insolvent. Insolvency proceedings have been initiated at the Vienna Commercial Court.
Liabilities in crores
According to KSV1870, liabilities are about 8.6 million euros, assets about 100,000 euros. The bankruptcy affects 10 employees and about 430 creditors. “Jolidays” mediates and executes adventure activities throughout Austria and also operates in Germany and Switzerland. “The processing takes place through the sale of vouchers, which can be redeemed with various partners. Vouchers are sold on the one hand through the website and on the other hand through sales at retail partners’ branches. The debtor company is the agent of the vouchers and the organizer of events,” explains KSV 1870.
Tech companies are also affected
Apart from JollyDase GmbH, JollyTech GmbH is insolvent. It is a sister company that develops and operates the “Jollydays” website. “This bankruptcy affects three employees and five creditors with approximately 700,000 euros,” it said. Bankruptcy proceedings were also opened at the Vienna Commercial Court.
Investors jumped on board at short notice
How did bankruptcy come about? The broadcast said: “As KSV1870 has learned, core sales business for the 2023 Christmas season performed in line with expectations. However, in the spring of 2024, sales through the online platform and retail partners decreased significantly and sales from the beginning of 2024 were below expectations.” Jollydays GmbH implemented a wide range of measures to save costs, including reducing staff. According to KV 1870, negotiations with investors Failed spectacularly just before the end.
What next?
According to information from KSV 1870, Jollydays may have stated in its bankruptcy application that it still has open customer orders and an operating platform. This is also the reason why there is information on the website that currently only vouchers can be redeemed but not purchased. However, continuation of the company is possible only if a potential buyer is particularly interested. “The bankruptcy administrator must now decide whether to continue or close the company. “The next few weeks will show whether an investor can be found,” he said. Brigitte understood From KSV1870.
An announcement: This post was updated on August 16, 2024 at 5:36 pm
