Bankruptcy of an ambitious hotel restaurant worth millions

“The Liebnitzmühle offers the ideal setting for fasting courses – a place where body, mind and soul can find peace in the midst of untouched nature on the banks of the Thay.
In the summer of 2026 we will start with a special fasting program that you can look forward to,” it says on the homepage. “We have decided to identify with the surrounding natural peace and, as an “adult hotel”, to warmly welcome all guests aged 12 and over (with the exception of weddings and seminars).”

Die Hotel-Restaurant Liebnitzmühle GmbH & Co. KG based in Raabs an der Thaya has loud Credit reform applied for bankruptcy proceedings at the Krems regional court. Six employees are affected by the bankruptcy.

The background

“The original company founder and builder of the hotel has repeatedly concluded contracts since 2000 that are detrimental to Liebnitzmühle and have placed a heavy financial burden on the company and will continue to burden the company in the future,” the insolvency application claims. “The Liebnitzmühle was also affected by the flood in September 2024. In 2025, massive maintenance and repair measures had to be carried out, which also placed a heavy burden on operating results and liquidity.”

And it also says: “The current operation was run by the appointed operations manager and commercial managing director with excessive personnel costs and was not adapted to the course of operations or seasonal fluctuations. The applicant is also confronted with the fact that funding received from the state of Lower Austria for an unauthorized fish ladder must be repaid. The funds required for this cannot be raised.”

The applicant is over-indebted, insolvent and is therefore forced to file the present application to open bankruptcy proceedings.

Debts and assets

The liabilities are estimated at 3.82 million euros, of which 686,400 euros are attributable to banks that are secured. The trade debts amount to 377,000 euros. Other liabilities are valued at 1.36 million euros and loans from third parties at 1.275 million euros. The free assets are estimated at 614,500, of which 544,000 euros relate to buildings on third-party property and 70,200 euros to current assets.

No future

Operations have effectively ceased. The company cannot be continued. The applicant agrees to closure.