Dear Madame, Dear Sir,
 
with this letter I have to inform you about the fact that we had to file an application for the opening of restructuring proceedings with self-administration according to §169 IO at the Regional Court of Feldkirch on May 9, 2022.
 
Until April 14, 2022, myRobotcenter was completely solvent against the background of the positive going concern forecast and the standstill agreement agreed with the banks.
 
At the beginning of March 2022, PayPal (the most important and most essential payment provider, which handles approx. 70 % of our online payments) successfully completed a regular credit check - as it had repeatedly done in the past - without any tightening of the credit rating.
 
According to information from PayPal, the next regular audit would not have been scheduled until August 2022. After an additional (unscheduled) credit check on PayPal's part was scheduled at short notice, the conditions for myRobotcenter were suddenly unilaterally adapted by PayPal to a significant extent, of which we were informed by email on April 14, 2022.
 
We were obliged by PayPal to build up a credit balance of approx. EUR 1.6 million from the title of buyer protection and respectively as a "security reserve" or the existing credit balance of myRobotcenter was promptly "frozen". Therefore, myRobotcenter's liquidity situation deteriorated dramatically and unforeseeably.
 
On April 19, 2022, we were also informed by a supplier that a credit insurance provider is no longer willing to insure a supplier credit. The consequence of this is that suppliers will only deliver goods against payment in advance, and this had an additional negative impact on myRobotcenter's liquidity as well. The reason for this step was that myRobotcenter had negative equity capital and therefore could not be insured. But this fact has now been known for several years.
 
The current global situation, such as the significant decline in customer demand (sharp drop in sales of up to 50 % in the individual categories), the Russia-Ukraine conflict, Corona, lockdowns in Europe and the Far East, supply chain issues, the inflation, prices of raw materials, exchange rates, etc., obviously had a significant influence on these decisions. These external parameters had already been faced internally for a while, and we always tried to adjust our business efforts accordingly.
Together with specialists, myRobotcenter made intensive efforts to find possible out-of-court restructuring measures after April 14, 2022 (bridging loan, search for investors, debt relief, etc.). Unfortunately, all these options failed due to the enormous time pressure.
As a result, the only option was to apply for a court-ordered restructuring proceeding.
 
You will be able to check on this website
 
https://edikte.justiz.gv.at/edikte/id/idedi8.nsf/suchedi?SearchView&subf=eid&SearchOrder=4&SearchMax=4999&retfields=~%5BSchuldnerS%5D=myrobotcenter~BMAZ=NUL&ftquery=&query=%28%5BSchuldnerS%5D%3D%28myrobotcenter%29%29#1652940459927
 
how you will be able to register your claims. Creditor protection associations will help you as well as buyer protections of differ payment providers.
 
https://www.ksv.at/insolvenzfaelle/myrobotcenter-gmbh-182515
https://www.akv.at/insolvenz/1368433-myrobotcenter-gmbh
 
 
 
We are aware that this circumstance is not at all pleasant for you as a customer of myRobotcenter and it might cause a loss for you. For this I would kindly like to apologise at this point.