Linz Resch Immobilien Verwaltungs GmbH has requested bankruptcy and requested a renovation process without self -administrator. The company, founded in 2021, is struggling with the consequences of the real estate crisis projects, the sale is not going. A renovation plan with a quota of 20 percent is now being sought.
Resch Immobilien Verwaltungs GmbH, based in Linz, has requested a renovation procedure without self -administration of the Linz Regional Court. Such as Sabine Schnecker from the Austrian Association of CreditRorm reports, the company responds to massive economic difficulties. The company, founded in 2021, has worked in various real estate projects in recent years – from acquisition for development to implementation as a customer. Some of the completed objects have already been successfully sold.
The business community was two years ago
But things got stuck about two years ago. The tense situation on the real estate market and increasingly difficult financing conditions on the copper side considerably difficult to sell the objects. As a result of this development, equity was fully used up. According to the application, about -indebtness is currently around 1.67 million euros. About 32 creditors are affected by the bankruptcy, but employees are not reported.
The purpose of the now started in the insolvency procedure is an orderly renovation of the company. Resch Immobilien Verwaltungs GmbH strives for an agreement with the creditors as part of a renovation plan that provides a quota of 20 percent.
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.
