The electronics retailer Steg Electronics has stopped operating all of its branches and the online shop. The reason for this is the financial situation, as the parent company PCP writes. Around 80 jobs in Switzerland could be affected by the insolvency.
The cancellation of credit limits has apparently caused the company, which, in addition to Steg Electronics, also owns the online shops PC-Ostschweiz.ch and Techmania, to experience liquidity bottlenecks. A total of around 130 jobs are at risk of bankruptcy in the branches, at the company headquarters in Schaffhausen and at an associated logistics company. 80 of these positions are in Switzerland, the rest in Germany and Slovakia.
As the PCP Group writes, until a few months ago everything at the company was going according to plan and a positive annual result was expected. This is also indicated by the opening of several new branches this year. According to PCP, a credit insurance company canceled credit limits worth millions without prior notice. And in August the entire limit of seven million francs was finally dissolved.
Unsuccessful discussions with banks and investors
For company founder Lorenz Weber, this step is incomprehensible, especially given its short-term nature, since in the event of bankruptcy the interests of the credit insurance company itself would also be at risk, as the press release shows.
Apparently, the discussions with banks, competitors and possible investors, with whom options for securing liquidity and continuing operations have been sought in recent weeks, have not led to any success. As a result, the company will deposit its balance sheet in the next few days.
Legend: Steg Electronics has a total of 17 branch locations. SRF
Customers were already informed on the Steg Electronics website on Friday afternoon that open orders could no longer be fulfilled. It goes on to say that advance payments that have already been made cannot be repaid, but customers can at most request them back from the payment provider. Finally, warranty claims on purchased devices remain, but would have to be processed directly through the manufacturer.