The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Spittal an der Drau; Wolfsberg (Unterkärnten); Leoben (Obersteiermark; Steiermark); Innsbruck (Tirol)
Sector
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Household Equipment In Specialised Stores 47.5 - Retail Sale Of Other Household Equipment In Specialised Stores
100 jobs Number of planned job losses
Announcement Date
15 October 2024
Employment effect (start)
15 October 2024
Foreseen end date
31 January 2025
Description
Gigasport, a sporting goods retailer based in Graz, Austria, has announced the closure of four of its 14 locations by the end of January 2025 due to challenging market conditions.
The affected stores are in Wolfsberg and Spittal an der Drau in Carinthia, Innsbruck in Tyrol, and Leoben in Styria, impacting around 100 employees.
After these closures, Gigasport will operate ten stores in Austria alongside its online shop.
The company cited ongoing difficulties in the sports retail market, exacerbated by the COVID-19 pandemic, energy crisis, and weak economic conditions. Gigasport had already implemented measures in the previous year to secure its future, but slow sales and rising costs continue to present significant challenges.
Eurofound (2024), Gigasport, Internal restructuring in Austria, factsheet number 201813, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201813.
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