Business
The Gigasport branch on Innsbruck’s Andechsstrasse is one of four branches to close permanently in early 2025. In July last year, the Sport 2000 group applied for reorganization proceedings. The closure affects 100 employees.
Market play continues in the sporting goods business. Gigasport is now closing four of its 14 locations and is stocking up in the central region. About 100 employees are affected by the branch closures and cost-cutting measures. Locations in Wolfsberg, Spittal/Drau, Leoben and Innsbruck will close at the end of January 2025. Also, Gigasport announced on Tuesday that cost-cutting measures will be implemented across the company.
Many crises are affecting the industry
“The last few years have been very challenging for all retail, especially sports retail. The industry has been hit by the effects of the corona pandemic, energy crisis and weak economy,” it said in a release. In addition, GigaSport was hit hard by the bankruptcy of the Sport 2000 cooperative last year.
Due to the crisis in the sports retail industry, retailers are sitting on full warehouses. This is particularly noticeable in the bicycle trade – after sales boomed during the corona pandemic. In July last year, the Sport 2000 group applied for reorganization proceedings. In 2023, actual sales in the sporting goods sector will decrease by 4.4 percent to 2.28 billion euros.
