Kneissl

Kneissl is an Austrian manufacturer of ski and sports articles, headquartered in Kufstein. The company is owned by a holding company owned by Mohamed Bin Issa Al Jaber. The company produces and sells apparel and accessories including ski and tennis rackets and bicycles.

History

The company was founded in 1861 as Kneissl Landwagnerei. In the years 1919 to 1921 the first ski were manufactured in series. In 1980 the company was forced to declare bankruptcy for the first time.

In 1990, the innovative Kneissl ski model, " Big Foot " on the market. Was founded in 1992 with headquarters in Molln by fusion of the Kneissl Dachstein and the company Kneissl Dachstein sports AG. With 320 employees, the company began in 1993/94 to 627 million shillings. 2003 Kneissl was insolvent for the second time. Largest shareholders were the BREG company for construction and revitalization of Hans -Peter Haselsteiner and Erhard Grossnigg then.

2006, the production of Kufstein has been moved to the Czech Republic.

Realignment from 2008

2008 Mohamed Bin Issa Al Jaber took over his JJW Hotels & Resorts Group of Companies, the majority of Kneissl. The realignment of Kneissl saw before, including through the opening of the world up to 70 Kneissl Star Lounge - a concept for shop and restaurant under one roof - and several Kneissl Star Resort Hotels to establish itself as a lifestyle brand.

2009, the first Kneissl Star Lounge was opened in the city center of Innsbruck. A built in Hochfuegen 2010 Kneissl Star Lounge was not related. The establishment of the Kneissl announced hotel projects has been postponed several times. The plans to build a ski factory in Kiefersfelden were discarded.

On January 3, 2011 applied for ex- Kneissl owner Fritz Unterberger, which the company owes around € 900,000 bankruptcy. Investor Mohamed Bin Issa Al Jaber had previously let on waiting with his promised cash injection of € 1.2 million to themselves. Other lawsuits are pending, among other things with the Viennese fashion label Susan Strasser and the football club FC Wacker Innsbruck.

Despite continuing reports about payment problems and the execution items in stock in the Kneissl Star Lounge in Innsbruck Andreas Gebauer stops at 25 million euros expensive hotel project in Stockenboi fixed .. same Gebauer announced action against creditor and a statement of the facts to the prosecutor Innsbruck on suspicion of enrichment of by a Viennese fashion company to. The investigation of the creditor were still set in March 2011.

After Al Jaber was also the end of January 2011 continue to wait with the promised funds to himself, should be negotiated another bankruptcy petition. CEO Andreas Gebauer had therefore on 7 February 2011, the solvency before the Regional Court of Innsbruck prove.

Bankruptcy in 2011

On 8 February 2011 announced CEO Andreas Gebauer after a won several dependents capital injection of Mohamed Bin Issa Al Jaber bankruptcy. This affects the Kneissl Holding GmbH, Kneissl Tirol GmbH as well as the Kneissl Star Lounge GmbH. In a first reaction Gebauer speaks of a legal claim against Mohamed Bin Issa Al Jaber, who had allegedly signed a capital increase and have to be responsible for the insolvency of a major part of the group of companies mainly. The Alpine Vendors Association accused the majority owner Al Jaber greed. This confirmed not to let the company fall. Al Jaber was prepared to assist the company in a reorganization process. The creditor Susan Strasser GmbH announced on the same day against, among others CEO Andreas Gebauer a statement of facts to the prosecutor Innsbruck on suspicion of " grossly negligent impairment of creditors' interests, wrongful and fraudulent bankruptcy offense on an .. Corresponding investigations, the Innsbruck prosecutor took end of February 2011 and they expanded to the daughter of Al Jaber in June.

Total debt was estimated at 16.4 million euros. In June 2011, failed a pre- negotiated reorganization plan at the lack of payment Al Jaber in the amount of 2.1 million euros. In July, the production in Kufstein was set in October was the concept of the investment company Friends of Sports (behind the Frankish sporting goods dealer Kramer Elastics GmbH stands with total assets of approximately 2.5 million euros ) the contract .. The final financing concept was remain to be determined and also Al Jaber was among the bidders for the insolvent company and made ​​an advance payment, but the balance of the purchase price remained guilty .. the acquisition by Friends of Sports but was not timely because in November still ongoing negotiations for the winter season 2011/12 be fixed. After the purchase price in the amount of 1.7 million euros was not received in December, the meeting of creditors was presented a renewed recovery plan should be decided on the until January 2012. Beginning of January 2012 deposited Al Jaber 1.98 million euros for the insolvency rate, with the adoption of the redevelopment plan by the creditors Kneissl was in late January 2012 with payment of its debt ratio of 20 % and Al Jaber JJA Beteiligungsverwaltungs GmbH became the sole owner.

Organization

Managing Director since 2007 are Andreas Gebauer, and since June 2012 Andrea King. Since 2008, no official figures for economic development have been published.