The PCP Group is temporarily ceasing operations due to a lack of financing. Steg Electronics, which is part of the group, opened additional branches in the spring.
“It is with great regret that we have to inform you that it is currently no longer possible to continue our operations,” says the website of Steg Electronics, which, like Techmania and PC Ostschweiz, belongs to the PCP.com group. The search for solutions was unsuccessful.
The group writes in a statement that the balance sheet will probably have to be deposited in the “coming days.” Lifted credit limits had "brought the company into liquidity bottlenecks" and the search for solutions was unsuccessful.
17 branches and all online shops closed, 130 jobs at risk
The closure includes all online shops as well as 17 branch locations and the headquarters in Schaffhausen. Together with the logistics company Columbus.net, around 80 jobs in Switzerland are at risk, and an additional 50 jobs would be added in Radolfzell (D) and Bratislava (SVK).
Until a few months ago, everything in the company was going “according to specifications”. In the spring, for example, Steg Electronics opened even more branches. And a positive annual result could be expected. But “within a short period of time, a credit insurance company reduced credit limits by millions,” the company says. “In August, the entire limit of 7 million francs was even dissolved.”
As 'IT Magazine' writes exclusively, the credit limit was canceled at the beginning of April this year from 7 to 4 million and later completely canceled. The credit insurer Allianz Trade, which reinsured the supplier credits for the PCP Group, is responsible for this.
Various options for continuation have been examined without success
This decision is “incomprehensible” at this level and at such short notice, says company founder Lorenz Weber. You were presented with a fait accompli. The company very much regrets the circumstances and wants to “handle the situation as best as possible.” This is because it is now “probably too late”.
In the last few weeks, all variants for continuation have been examined. “We had drawn up a proposal to increase equity capital,” said Weber. However, this could not be implemented “due to the uncoordinated actions of individual parties”.
According to its own information, the PCP Group recently generated sales of “over 100 million francs”.