Dayli's concept of neighborhood stores is not working, endangering almost 3,500 jobs. The store admitted to this failure and asked for a court-supervised restructuring as a response.
Austria is currently the member of European Union having the lowest unemployment rate. This filing would test whether Austria's current safety net is strong enough to withstand the pressure from corporate failures, including an impending one from Alpine, the nation's second largest construction group.
Dayli was launched by Rudolf Haberleitner in 2012 from the remnants of Schlecker group. However, it now suffers from having more liabilities than assets, calculated from breakup valuations.
Dayli's problems have been reported for weeks, unnerving a lot of creditors and suppliers, and aggravating its already weakening position. Before this proposed restructuring was filed however, Haberleitner already moved its holdings in Dayli to a retail sector managed by Martin Zieger.
Join the Conversation