Another important step has been taken on the way to saving the family ski area, said Friedrich Drack, managing director of Almtal-Bergbahnen, in a press release.
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Within two years, creditors should receive a quota of 20 percent of their claims. The restructuring plan is expected to be voted on in June. “Until then, intensive discussions will have to be held with all creditors,” says Drack, who continued to run the ski area with his team last season.
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The winter sports area had struggled with financial problems for a long time. In 2016, it was decided between the state and four municipalities that took over the operation to cover departures from the operating company up to an annual amount of one million euros for ten years. In return, the state had demanded an overall tourism concept, but this failed because of the landowners. The result was bankruptcy in July 2023.
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