After millions in bankruptcy

Watch and jewelry retailer is now to be sold

On Valentine's Day, insolvency proceedings were opened for the company behind the "Le Clou" and "Juwelier Reiter" brands.(Bild: Harald Dostal)

Valentine's Day 2024 was a dark day for the largest domestic watch and jewelry retailer: on 14 February, restructuring proceedings were opened for the company behind the "Le Clou" and "Juwelier Reiter" brands. After several store closures, the sale process is now underway.

The two stores in Germany have been closed, five locations in Austria have also had to go, and the online store is currently not in operation either!

Two months after restructuring proceedings were opened for Alphagold Schmuck- und Uhrenvertriebsgesellschaft m.b.H. in Linz (Upper Austria), administrator Norbert Mooseder has reduced the company, which is behind the "Le Clou" and "Juwelier Reiter" brands, to 88 employees.

Almost 6.9 million euros in claims recognized
What happens now? The continuation of the business was recently approved at the hearing at the regional court in Linz. The jewelry and watch retailer is now to be sold.

Apparently there is already an interested party. It is not yet known who this is. Creditors' claims of almost 6.9 million euros have been recognized. They are being offered 20%.