The operating company of the Viennese club Pratersauna is bankrupt, but the discotheque will continue to operate. The operator is Soundgang Studio GmbH or the former Dots PS GmbH of main owner Martin Ho. The restructuring proposal without self-government submitted in the procedure, if accepted, amounts to 20 percent within two years.
The total debts amount to 600,000 euros. More than 80 creditors are affected, AKV and KSV announced on Wednesday.
The company itself said that the company’s scope of work includes the operation of the recording studio, artist management and event organization. The company, which is being renovated, is not responsible for the operation of the Pratersauna; rather, it is a “business based on the club premises”. The activities will therefore continue.
As the Chamber of Labor (AK) explained at a press conference last week, it is investigating a fraud complaint against Viennese restaurateur Ho over outstanding payments to employees.
78 employees have contacted the Chamber of Labor
This year, 78 employees from various companies in its Dots group – which is currently undergoing restructuring – sought legal advice from AK Vienna due to outstanding claims against their employer. The AK is also critical of the restructuring and sale of individual companies in the Dots Group. Ho’s group had described the AK’s allegations as “baseless”.
Dots Beteiligung GmbH was the central controlling holding company for Ho’s group of companies, which consisted of clubs, restaurants, hotels and cultural institutions. He is a native Vietnamese who has become prominent in Austria and is a friend of former ÖVP boss and Chancellor Sebastiaan Kurz.
Ho has resigned from various posts
Last year, Ho withdrew from many management positions in his group – for example at the then operator of the Pratersauna, Dots PS, the predecessor of Soundgang Studio.
“The coming weeks will show whether the renovation efforts can actually be sustained,” says KSV expert Jürgen Gebauer about the renovation efforts at Soundgang Studio.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
