Voucher provider and “Austria’s No. 1 for experiences”, the platform Jollydays.at, is insolvent. There is talk of 8.6 million euros in debt, reports KSV 1870.
VIENNA. We are talking about “your expert for original gifts”: Jollydays.atThe platform is “Austria’s number 1 for experiences” because you can buy vouchers here. The current offer includes a large Viennese delicacies brunch, a spa at St. Stephen’s Cathedral or beer tasting with all the senses. The company has been in existence for 20 years now.
But on Friday afternoon, the news came that the Commercial Court of Vienna had opened bankruptcy proceedings against Jollydays GmbHbased in Rudolfsheim-Fünfhaus, was opened. The company deals with the organization and implementation of adventure activities. It sells vouchers that can be redeemed at various partners. The vouchers can be purchased either online or through sales in the retail partner’s branches. It also organizes events.
According to KSV 1870, ten employees and 430 creditors are affected, and there is talk of 8.6 million euros of liabilities. The platform was developed by the sister company Jollytec GmbH and is also maintained and operated by it. The only contractual partner is the debtor company. And bankruptcy proceedings were also opened against Jollytec GmbH on Friday. Three employees and five creditors with 700.000 Euro Debts. This also explains why the message at the beginning of the website says “Service interruption: Currently only vouchers can be redeemed”.
The business worked wonderfully during the Christmas season last year, but in the spring of 2024, both sales via the platform and via retail partners had declined significantly and sales since the beginning of the year have remained below expectations. “The debtor initiated and implemented appropriate restructuring measures in the form of employee reductions, general cost savings and the payment of a further shareholder contribution. In parallel, discussions were held with potential investors until recently, who also presented themselves positively,” says KSV 1870.
Talks surprisingly failed
However, the talks unexpectedly failed shortly before they were concluded, which is why the consequences must be drawn in the form of the current bankruptcy application. The debtor still has existing open customer orders and a functioning platform. The company can only continue to operate if there is concrete interest from a potential buyer.
“The insolvency administrator will now have to decide whether to continue or close the company. The next few weeks will show whether an investor can be found,” explains Brigitte Got it from KSV1870 in a press release.
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