€1.1 million in debt: Fashion retailer in bankruptcy

A bankruptcy case over the assets of Austrian fashion chain Scotch & Soda was opened Thursday in Vienna. The reason is the bankruptcy proceedings of the Dutch parent company – Scotch & Soda Group, managed by the Dutch company S&S Europe BV, which opened on Wednesday.

The business model was to sell clothing under the textile brands Scotch & Soda, Scotch & Soda Amsterdam Couture, Scotch Petite, Maison Scotch La Femme Ceylon Marie, Maison Scotch, Scotch Shrink and Scotch Wrap. According to the Credit Protection Association of 1870, total liabilities amount to approximately 1.1 million euros. 24 creditors and 22 employees – at branches in Vienna and at the Parndorf outlet center – were affected by the bankruptcy.

“The insolvency administrator will have to quickly check whether the company can continue or whether closure is inevitable. KSV1870 does not have any additional information about whether a restructuring is planned,” said Jürgen Gebauer of the Credit Protection Association.

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