The “Alpin Family GmbH” hotel group presented bankruptcy with the Vienna Commercial Court on Wednesday. The company with Dutch owners runs various hotels and apartments in Austria and, according to its own statements, has a debt of around 17 million euros.
About 135 creditors and 73 employees are affected by the bankruptcy – however, the company must be continued. Alpin family combines hotel brands such as “Avenida”, “The House Collection” or “Alpin Rentals” with more than 3000 beds at ten locations in Salzburg Pinzgau and Pongau, in Tyrol and in Upper Austria. The company’s head office is in Vienna.
Business operation continues
As the company has announced in a statement, far-reaching restructuring and renovation measures are planned. The business activities take place in all companies during the procedure. The salary payments to employees are also secured.
According to the company, they have been invested in the team in recent years and are quickly expanded. Alpin Family, one of the leading holiday suppliers in Austria, was still in the preliminary question and wants to increase the annual turnover from 55 to 75 million euros by 2025. Now it is said that the integration of the new companies is slower than planned and led to liquidity notta -checks with other factors.
Increased personnel costs and inflation as reasons
Increased personnel costs and the effects of inflation and price increases, which could only be passed on to small parts to consumers. There was a noticeable decline in the elaborations of the room, the explanation literally spoke of an “unexpected weak winter”.
According to credit protection associations, the debtor is the owner of a total of 14 shares of real estate, the value of which must first be determined in the course of the procedure. The debtor also has shares in connected companies. The company offers creditors a quota of 20 percent, to be paid within two years.
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.
