The well-known stakehouse chain Maredo slipped into bankruptcy due to Corona © istock
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Yesterday (25.06.) the AKV and KSV creditor protection associations announced that bankruptcy proceedings were opened against the assets of MAREDO Restaurants GmbH at the Vienna Commercial Court. 50 creditors are affected.
The applicant is the well-known steakhouse chain MAREDO with two restaurant branches in Austria, namely in Vienna and Salzburg, which were already closed on March 16, 2020. Sales have slumped completely and the available liquidity has been used up.
Insolvenzursache
The slipping into the current bankruptcy is seen in connection with the corona pandemic and the associated consequences. Due to the measures adopted by the federal government, catering in restaurants (as of March 17th, 2020) was completely closed across Austria. The company is not going to continue as the locations are already closed. According to the applicant, reopening does not appear to make economic sense due to the strict official orders and restrictions. The applicant employed around 51 employees.
Insolvency application also made in Germany
The German parent company MAREDO Restaurants Holding GmbH is 100 percent owner of the applicant. In Germany, too, an application for bankruptcy has already been filed with the Düsseldorf District Court. The current financial situation must first be checked in the course of the procedure. According to their own information, there are due liabilities of at least EUR 465,500. Around 50 creditors are affected by this bankruptcy. According to Kurier, the bankruptcy of Maredo Betriebs KG, Maredo Gaststätten GmbH and Maredo Holding was filed on March 19, 2020. The entire group employs 954 people.
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