Bankruptcy of a well-known construction company worth millions

The debtor is a subsidiary of SÜBA AG.

“The debtor attributes the slide into insolvency to high interest rates, high inflation and thus increased construction costs and restrictive investment behavior. Despite some constructive discussions with all key stakeholders and financial creditors, bridging financing for a restructuring concept could no longer be secured,” said the AKV.

We’re talking about the SÜBA Construction and Project Construction GmbH (FN 472497z) based in Vienna. There was a lot of noise about your assets AKV, Creditreform and KSV1870 bankruptcy proceedings are opened. 14 employees are affected.

“The debtor is one Subsidiary of SÜBA AG. The SÜBA Group provides services in the areas of planning, construction and sales of residential and commercial properties as well as in district development. “SÜBA Bau und Projekterfassungs GmbH supervises and coordinates SÜBA AG’s construction projects,” according to KSV1870. According to AKV, the debtor has expanded to Germany and Hungary in recent years.

SÜBA AG is part of the Austrian real estate investor Klemens Hallmann.

The debts

The debt is estimated at around 29.7 million euros. In the 2023 financial year, sales were 67.1 million euros, the accumulated loss was 9.89 million euros, the previous loss from previous years was 11.04 million euros and negative equity was 6.45 million euros. The liabilities were put at 48.49 million euros.

“The debtor tried until the end to ensure the financing of the company’s operations,” said the AKV. “Whether it is possible to continue the company in the process will now be discussed with the insolvency administrator Dr. Stephan Riel will be discussed.”