Bitter bankruptcy of a well-known restaurant and bar

Die CAT Bar GmbH based in Vienna, today, Tuesday, submitted its own application to the Vienna Commercial Court to open restructuring proceedings without self-administration. That confirms Venka Stojnice from the Austrian Association Credit reform the COURIER. 11 employees are affected by the bankruptcy.

The company operates in the catering sector and runs the following catering establishments:

• Bar “krypt” – Berggasse 5/Wasagasse 17;
• Restaurant “Creo” – Lerchenfelder Belt 48/Top 1, 1080 Vienna + Blindengasse 3/1, 1080 Vienna;
• Gastronomy in the Remassuri Theater (always Fridays)
• temporary snack bar in a container in “Seestadt” (operated last summer)

According to Creditreform, only the “Krypt” bar is currently in operation.

Shareholders are:

K5 Beteiligungs GmbH (Share: 50%) around Günter Kerbler

Teresa Kerbler,(Share: 29%)

Schilcher Christian(Share: 21%)

The causes of bankruptcy

According to the self-application, there appears to be no alternative to submitting an application due to the current financial situation.

The debts

The liabilities are estimated at 250,000 euros.

The renovation

The company is offering creditors a 20% restructuring plan quota payable within two years of acceptance.