It’s been a turbulent seven and a half months, but there’s a happy ending at the end. After the opening of insolvency proceedings for the bakery of Markus Weinhäupl in Altheim (Upper Austria) at the beginning of October 2022, the restructuring plan has now been approved. The survival of Austria’s oldest bakery is thus ensured.
The originally appointed receiver was replaced, the restructuring plan application was withdrawn in mid-January and a new plan was presented at the end of March: the insolvency proceedings for Markus Weinhäupl’s bakery in Altheim were turbulent.
Now the happy ending: after the offer to creditors had improved again, the green light was given for the renovation of Austria’s oldest bakery. Curator Wilhelm Deutschmann, who had successfully continued the company, was also pleased with this. “Mr. Weinhäupl himself played a key role in making this happen – after all, he works in the bakery,” says Deutschmann.
About 240,000 euros for creditors
The employees also showed loyalty in the time of uncertainty and stood behind their employer. In any case, customers were not impressed by the insolvency procedure and remained loyal to the bakery, which was founded in 1604. A quota of 40% is paid to creditors – a total of about 240,000 euros.
Source: Krone
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