Consequences of increased costs

Millions in bankruptcy! Brewery files for restructuring

39 people are employed at Brauerei Grieskirchen GmbH.(Bild: Markus Wenzel)

It has been known since the beginning of February that Brauerei Grieskirchen GmbH is in financial difficulties because the January wages could not be paid. Now the beer producer is officially a restructuring case again: according to Kreditschutzverband 1870, the liabilities amount to around 3.8 million euros.

Four years after a successful restructuring process, the financial hole at Brauerei Grieskirchen GmbH was once again too big: the company applied for restructuring proceedings on Monday, offering its creditors a quota of 20 percent, which is to be paid within two years, according to Kreditschutzverband 1870.

39 employees affected
The application ultimately came as no surprise. After all, the problems at the beer producer had already become known at the beginning of February when the wages for January could no longer be transferred. What happens next for the 39 employees will depend on the insolvency administrator and the necessary steps in the restructuring process.

What are the reasons for the current insolvency? Brauerei Grieskirchen GmbH cites the increased energy and production costs as the main reason, while raw materials and packaging were also much more expensive than originally planned. According to Creditreform, the calculated income for the order from a food retailer fell flat because the purchase of bottles turned out to be too expensive.