When you know you'll be visiting a new place, what do you like to do? For me, there are a few things. One is, I like to just walk around and experience the area. Take pictures. Take in the sights, sounds, smells, and really pay attention to what's going on around me. Soak up the vibes. If there are any, I like to know the whereabouts of a good coffee shop/bakery specializing in whatever delightful baked goods the area is famous for having.
And if there's a motorcycle museum, I want to know about it. And I want to make plans to visit. Wouldn't you?
If you're like me in this way, and especially if you've ever done food and/or hospitality work in your life, then what I'm going to say next will probably hit you a little harder than most. The staff services provider that exclusively serves the KTM Motohall Museum just declared insolvency. This situation is directly related to the KTM AG insolvency and related insolvencies filed earlier in 2025.
In this case, the name of the company doesn't involve any of the first three letters that comprise Kronreif Trunkenpolz Mattighofen. Instead, it's called Convey X GmbH, and it employs about 15 people according to the Alpine Creditors' Association, AKV Europa. Its current liabilities are about EUR 410,000, owed to approximately 20 creditors. The AKV is currently accepting claims from creditors regarding this insolvency filing.
Convey X GmbH's proposed restructuring plan involves payment of 20 percent of its outstanding debts within 24 months after the plan is accepted. It wants to continue operating so that it can "generate ongoing sales" and repay its debts.
AKV also notes that "the quota currently offered is the legal minimum requirement for a restructuring procedure without self-administration," which means it doesn't appear to be pursuing the same line as the three insolvent subsidiaries of KTM, which have so far proposed self-administration of their insolvency plan. KTM has a long history, and the Motohall is of course a way to share both its past and its present with visitors from all over the world.
The museum's staffing company, Convey X, was first formed in 2018. As you might recall, only two years later, the COVID-19 pandemic dealt a devastating blow both to people, and to cultural and hospitality institutions in particular.
It's a matter of public record that Convey X was one of many companies that received a significant amount of state aid to handle the financial effects of the pandemic. From 2020 through 2022, it received between €30,000 and €43,000 per year in assistance to get through an extremely rough period. Times were tough, but the company did manage to come out the other side intact.
But it couldn't weather the current KTM storm, so it's now declared insolvency. What will happen next? The next big court date for KTM is February 25, 2025, so we'll have a better view of what comes next then. Stay tuned.
