Hellweg to close Fürstenfeld and Raaba stores
Austria Hellweg will close its DIY stores in Fürstenfeld and Graz-Raaba, ORF reported on Wednesday. The company’s restructuring administrator, in coordination with the chain, filed an application for the partial closure of both branches with the Linz Regional Court.
A potential investor had held what Hellweg described as promising talks with the company, but after reviewing the two Styrian stores, it found no viable plan for continuing their operations.
The closures will affect 44 employees, who have been informed. Existing stock at the two stores’ warehouses will be disposed of with the help of a liquidation company. Hellweg did not identify the investor, citing the ongoing negotiations.
Talks will continue over the remaining four stores in Ried im Innkreis, Graz-Eggenberg, Straßwalchen in Salzburg and Kirchdorf an der Krems in Upper Austria. Together, they employ about 120 people. The aim is to transfer the four locations to an investor in an orderly manner.
The Linz Regional Court opened restructuring proceedings under self-administration on June 30 after Hellweg’s German group filed for insolvency on June 16.