A furniture retailer in Lustenau, Vorarlberg, has declared bankruptcy, leaving creditors with a payout of just 0.9 percent on nearly €1.9 million in recognised claims. The company, employing around ten staff, counted approximately 50 creditors, including the Austrian tax office and Health Insurance Fund (ÖGK), which are owed around €600,000 collectively.
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The company in question is Sema Möbelhandel GmbH. This marks the third major furniture or kitchen retail insolvency in the region within two years, following the collapses of Markus Tschohl GmbH and Art of Kitchen (Machek company). The reasons behind Sema Möbelhandel's multi-million euro failure remain unclear.
The insolvent company was owned by managing partner Osman Semih Gaye. Notably, a new kitchen retailer, segaküchen, now operates at the same Lustenau address. Segaküchen is a brand of Vega GmbH, led by Yunus Serhat Gaye, which was founded in July 2023, just five months before Sema Möbelhandel's insolvency. Vega's managing director had previously experienced bankruptcy in 2014 with another Lustenau kitchen studio.
Observers note the repeated failures highlight risks in the region's small-scale furniture sector, with both private and public creditors facing significant losses.
Source: www.vorarlberg.orf.at
