Two months after the opening of insolvency proceedings at the Grieskirchen GmbH brewery, the remaining employees and customers can breathe a sigh of relief: the company, which went bankrupt with more than three million euros in debt, has been saved. The creditors gave the green light for the restructuring plan.
Things already looked good during the audit meeting in mid-April and since Thursday afternoon it has been clear: the Grieskirchen brewery has been saved. The creditors gave the green light to the restructuring plan, which gives the creditors a total of 70 percent.
“With the acceptance of the restructuring plan, a foundation stone was laid for the restructuring of the company. It is the debtor’s responsibility to meet the agreed quota over the next two years,” says Peter Stromberger of the Credit Protection Association 1870.
24 employees have left
In total, creditors submitted claims for a total amount of 4.4 million euros, of which the court ultimately recognized 3.76 million euros. After the bankruptcy, activities were further streamlined. The Grieskirchen GmbH brewery currently has 24 employees.
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.
