"Devastating season"

Restaurant Mole West on Lake Neusiedl insolvent

On Thursday, restructuring proceedings were opened for the well-known restaurant in Neusiedl am See. 

One of the best-known restaurants on Lake Neusiedl, Mole West, is insolvent. As announced by KSV1870 and AKV, restructuring proceedings have been opened against Gruze Mayer & Co Immobilien GmbH, which operates the restaurant. The debts amount to 2.8 million euros and 70 creditors are affected. The company has no direct employees.

Corona and lack of water as reasons
In addition to the consequences of the coronavirus pandemic - the restaurant was unable to claim state support - the reasons for the bankruptcy include an "economically devastating summer season 2022 (water shortage in Lake Neusiedl), increased cost of goods as well as high personnel and energy costs".

Insolvency administrator decides
The creditors are being offered a 20 percent share. The restructuring plan is to be financed from the going concern. "The insolvency administrator will now have to examine whether a continuation is in the interests of the creditors," says KSV1870.