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According to the insolvency application, all employees have already been deregistered. Only one Christmas party will be held on December 7th and the company will then be closed and sold. According to the debtor’s representative, employees will be employed at short notice for this Christmas party, which is still to be held, following discussions with the insolvency administrator. The outstanding amounts amount to around 280,000 euros, affecting 12 creditors.
According to the debtor’s representative, the main causes of insolvency are the decline in the number of guests as a result of the general decline in purchasing power due to the corona pandemic and high inflation. The facility was also purchased from the tenant as part of the local takeover at a price of 80,000 euros and also had to finance some other business expenses.
According to the debtor’s representative, the debtor is the owner of an apartment that is to be preserved. Therefore, in the course of these bankruptcy proceedings, it is to be expected that the debtor will submit an application for a restructuring plan. “The KSV1870 will work to ensure that the process progresses quickly and the best possible quota for the insolvency creditors,” says Alexander Meinschad from the KSV1870.
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Source: Nachrichten
