Interio creditors agree to restructuring – doubts about implementation remain

20 percent quota over two years

The restructuring plan that has now been adopted provides for a quota of 20 percent, payable within two years. An initial cash quota of 5 percent must be paid within 14 days of the plan being legally confirmed. A further 5 percent follow after 8, 19 and 24 months. However, court confirmation is still pending: the prerequisite for this is that the cash quota and the procedural costs are deposited by July 31st.

170 creditors have registered claims amounting to 6.164 million euros, of which 5.230 million euros have been recognized. In addition, there are undeclared liabilities of around 1.015 million euros as well as other claims from the public sector due to the partial business closures. The restructuring plan requirement is around 7.555 million euros.

Locations are closed, sales disappoint

As part of the restructuring, Interio will close the branches in Vienna and Linz at the beginning of July. The central warehouse in Traiskirchen was outsourced. The Graz branch is particularly problematic: there are legal disputes with the landlord, eviction proceedings are pending, the stock of goods is missing and the rental costs are highaccording to the AKV.

The insolvency administrator expresses clear doubts as to whether the restructuring plan can be fulfilled. The actual sales are significantly below the planned values. It assumes that the quota cannot be generated from continued operations alone and that additional funds from shareholders or third parties will be necessary. In addition, in order to sell off the high inventory, new purchases of goods are necessary, the financing of which must be secured by third parties, according to the AKV.

The insolvency debtor herself is more optimistic: the costs should be further reduced and discussions with investors are promising.

Industry under pressure

Interio is not an isolated case. The furniture industry has been struggling for years with falling sales, high storage costs and changing consumer behavior. Competition from online retailers and low-cost suppliers is putting stationary furniture stores under massive pressure. Retail bankruptcies are also increasing in Germany and Austria. Experts expect a further increase in bankruptcies in 2025.

Whether Interio can still turn things around will become clear in the coming weeks. The company has until the end of July to prove that it can make the first payment. If that doesn’t work, the Interior chapter is finally over.