Back in September we shared the news that Austrian multi-brand distributor and manufacturer, KSR Group had gone into administration.
Today, 20th December, The Krems an Der Donau district court lifted the external administration proceedings of KSR Group GmbH. They approved the restructuring plan, clearing the way for a new start for the company.
Restructuring plan
Part of that restructuring plan means core markets in Austria, Germany, Switzerland, Italy, Greece and Belgium will remain under the control of KSR directly. Other countries will be handled by importers (MotoGB for the UK for instance). In global sales, KSR will concentrate on their own brands, Malaguti and Brixton, as well as developing “Smart Products.”
“The foundation for a successful future has been laid. This was made possible, on the one hand, by the willingness to cooperate of our business partners and, on the other hand, by the great support of our employees. We would like to thank everyone involved for their trust and can now be full of optimism the next steps,” said Michael and Christian Kirschenhofer, managing directors of KSR Group GmbH.
The restructuring agreement has saved 140 jobs and provided stability for sales in key European markets.
