Viennese “Bermuda Bräu” in the Bermuda Triangle is insolvent

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“Bermuda Bräu” is insolvent

The assets of “Bermuda Bräu” GmbH were announced today, Monday, based on a personal application bankruptcy proceedings opened at the Vienna Commercial Court. Venka Stojnic from Creditreform confirms this to KURIER. The company operates the well-known beer bar “Bermuda Bräu” at Rotenturmstrasse 27, 1010 Vienna. 24 employees are employed.

Causes of bankruptcy

“According to its own application, the company has suffered from massive declines in sales since the beginning of the Covid 19 pandemic. After the end of the Covid-19 pandemic, sales could no longer be achieved due to changed consumer behavior,” it continues. “The lease runs until December 31, 2024. Eviction proceedings are currently pending.”

According to its own application, the company is not over-indebted, but is apparently insolvent. As of August 31, 2024, the assets are valued at 804,154.83 euros and the liabilities at 758,299.93 euros.

High rent – restaurant closes

“Continuation of the company is not economically feasible due to the high rental rates, even with increased sales in the run-up to Christmas,” it continues.