The butcher shop “GenussPapst” from Vöcklabruck says that they have “danced at too many weddings” as the reason why the company has now filed for bankruptcy. In addition to the butcher shop, the nightclub “Village Hill” also went bankrupt.
The company was only founded in 2022 and, in addition to the “GenussPapst” Feischhauerei in Vöcklabruck, also operates a nightclub. Strategic mistakes had already been made when the company was founded; the broad scope of work in addition to the core business – catering at major events, direct delivery of lunch menus and the night restaurant – would have required high personnel costs. Added to this was the cautious consumer behavior of customers.
13 employees
All in all too much: according to the Credit Protection Association 1870, the “GenussPapst” is indebted to 50 creditors for 1.2 million euros. A total of thirteen employees were affected.
The non-self-government restructuring process was opened at the Wels Regional Court on Monday. The company offers creditors a 20 percent quota, payable within two years.
The curator now wants to determine whether the continuation of the company can be guaranteed without further losses for the creditors.
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.
