The German Italo system catering chain Vapiano already announced bankruptcy in mid-March, a few days ago it also hit the Austrian branch. An application for bankruptcy and a petition for reorganization proceedings were filed with the Vienna Commercial Court. 14 locations with around 600 employees are affected. One restaurant in Lind and two in Innsbruck, which are run by independent entrepreneurs as franchisees, are not affected.
Whether Vapiano has a future in Austria now depends on whether the approximately 150 creditors agree to the restructuring plan. Vapiano offers a quota of 30 percent. The total liabilities are just under EUR 39 million. The German mother’s insolvency proceedings are cited as the reason for the problems. However, Vapiano has also been in the red repeatedly in Austria in recent years.
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