Break | 7lytix gmbh

News information

On October 15, 2024, assets of

7lytix GmbH, 4020 Linz, Am Winterhafen 11

At their own request, restructuring proceedings without self-administration were opened at the Linz Regional Court.

Company Property: Creation and commercialization of software in the field of applied artificial intelligence, especially predictive data analyzes and recommendations for action for companies in retail, industry, logistics as well as for banks, knowledge organizations and media.

Shareholder: Franziskos Kyriakopoulos, CFP Holding GmbH, Raiffeisen KMU Invest AG, Mediaprint Zeitungs- und Magazinverlag GmbH & Co KG, OÖ HighTechFonds GmbH, Element Beteiligungs GmbH, renero holdings GmbH

Managing director: Franziskos Kyriakopoulos

Affected employees: 12

Creditors affected: 17

Active: rd. 269.000,- Euro

Passive: around 1.96 million euros

From now on, claims of creditors can be filed through KSV1870, which represents the creditors, until 3 December 2024. Mail: [email protected]

According to its own information in the bankruptcy file, the company has been recognized as a leader in the Austrian AI map sales sector since entering the market in 2017. As a result of several awards, acquire investments and customer relationships with well-known companies such as the Voest Alpine Group, XXXLutz, Rail Cargo Group, Hofer KG, Deutsche Bahn Cargo and several banks.

It is said that several reasons, such as the corona pandemic, the war in Ukraine and the decline in the competitiveness of European industrial and commercial companies, have led to a reduction in the research, development and marketing budgets of these companies, according to the debtor . As a result of the decrease in deposits, together with a high required research bonus and unpaid user claims of ​​around 100,000 euros, liquidity problems led to the necessity to file for will break

It is planned to carry out a restructuring in which it will provide bankruptcy creditors with a restructuring plan of 20%, to be paid within 24 months of the adoption of this restructuring plan.

The financing of this restructuring plan is to be guaranteed through the continuation of the lean company (closing the development department with 5 employees and the human resources department with 1 employee), from sales results and from the shareholders or investor area.

“After the debtor’s assets have been assessed and the claims have been decided by the bankruptcy administrator, we assume that the restructuring plan will be developed, especially in terms of an earlier payday,” said Alexander Meinschad of KSV1870, which represents the creditors.

Dr. appointed bankruptcy administrator. Thomas Zeitler, lawyer in 4020 Linz, appointed.

The first creditors’ meeting and inspection meeting will be held on 17 December 2024 at the Linz Regional Court.

On January 24, 2025, the creditors will negotiate and vote on the requested restructuring plan at the Linz Regional Court.

The information provided by the debt company could not be sufficiently confirmed by KSV1870 in a short period of time.

Century, 15.10.2024