The restructuring proceedings with self-administration submitted by Zentrasport Österreich e.Gen. on Aug. 11 were successfully closed on Nov. 9, 2023, at the regional court in Wels. The creditors approved the restructuring plan. The original target ratio of 60 percent could not be fully met; creditors will receive a ratio of 53 percent within the next two years. Following the successful consolidation, the association of Austrian sports retailers looks to the future with confidence.
“With the support of our retailers, suppliers, employees and partners, we have mastered this process together. Ultimately, the successful restructuring of Zentrasport was a team effort,” said Dr. Holger Schwarting, CEO of Sport 2000 Austria, expressing his thanks for the solidarity within the community. Thanks to the takeover of the central settlement business by DZB Bank GmbH, the sports retail community has succeeded in securing the supply of goods and access to brands for retailers as far as possible. This has enabled the retailers to continue their business. Thanks to the regionally anchored retailers, end consumers were unaffected by the restructuring.
New structures and support for retailers with core services
Around 150 retailers and 150 suppliers have now joined the new structure of Sport 2000 Austria or are currently in the process of joining. The main focus now is on establishing new association structures and providing retailers with even more targeted support with the most relevant core services.
Strong focus on strategic priorities
Following the consolidation, the Ohlsdorf-based dealer association starts with a clear focus on brand, specialization, community and strategic partnerships. “We had to part with a lot. That was a painful process. But it was also a process already geared towards the future because bricks-and-mortar retail is currently undergoing massive upheaval,” said Schwarting, who emphasizes in this context that the sports industry is still a healthy sector with future potential. “Together with my team in Ohlsdorf, we have put our strategic priorities through their paces. We are convinced that our strategy is fit for the future and are therefore expanding it even further.”
