In Grieskirchen

Creditors give the green light: brewery saved

Brauerei Grieskirchen GmbH slipped into insolvency at the beginning of March.(Bild: Markus Wenzel)

Two months after the opening of insolvency proceedings at Brauerei Grieskirchen GmbH, the remaining employees and customers can breathe a sigh of relief: the company, which slipped into bankruptcy with debts of more than three million euros, has been saved. The creditors gave the green light for the restructuring plan.

Things had already looked good at the audit meeting in mid-April, but since Thursday afternoon it has been clear: the Grieskirchen brewery has been saved. The creditors gave the green light for the restructuring plan, which gives the creditors a 70 percent quota.

"With the acceptance of the restructuring plan, a cornerstone has been laid towards the restructuring of the company. It is up to the debtor to meet the agreed quota over the next two years," says Peter Stromberger from Kreditschutzverband 1870.

Still 24 employees
In total, creditors registered claims amounting to 4.4 million euros, with 3.76 million euros ultimately being recognized by the court. Operations were further streamlined in the course of the insolvency. Brauerei Grieskirchen GmbH currently has 24 employees.