Slump in sales

This cult restaurant has now slipped into bankruptcy

The next restaurant bankruptcy in Upper Austria. With the "Walker" on Linz's main square, a real institution has slipped into bankruptcy. The slump in sales following the coronavirus pandemic caused the financial problems. But there is also good news: the cult restaurant is to be kept open.

Delicious burgers, a beautiful outdoor dining area in the middle of the main square and a loyal regular clientele - yet the restaurant, which is well-known beyond the city limits, ran into turbulence in the 21st year of its existence. 

These are the reasons
"The main reasons given for the insolvency are a massive slump in sales due to the coronavirus pandemic, with sales not expected to increase again until 2024. In addition, massive cost increases in the energy and personnel sectors as well as in the use of goods as a result of the energy crisis in the same period are cited in the insolvency application," according to the statement from the Kreditschutzverband von 1870 (KSV 1870).

The liabilities amount to EUR 231,000, the assets to around EUR 72,000, 21 creditors and the same number of employees are affected. However: "The debtor is planning to finance a restructuring from the proceeds from the continuation and sale of the business as well as the operating profit," according to KSV 1870. It is now being examined whether this is possible without losses for the creditors.