Conditions not met

Pizzeria goes bankrupt again after failed restructuring

In April 2023, the restaurant in a prime location was hit by insolvency for the first time, but thanks to a restructuring plan, the pizzeria was finally able to continue operating. Until now! After this was no longer fulfilled according to Kreditschutzverband 1870, a creditor has now applied for renewed bankruptcy proceedings.

The popular pizzeria "Riva" on Linz's main square had to file for bankruptcy back in 2023 - according to the owner, the pandemic brought the restaurant to its knees. Cycling and boat tourists, who had always been an important source of income for the restaurant, almost completely disappeared in 2020 and 2021. The consequences: a massive slump in sales, which caused the restaurant to falter economically. In the end, the restaurant had liabilities of around 500,000 euros, 23 creditors and six employees were affected. 

Despite the difficult situation, the operator tried to make a fresh start - with the help of a restructuring plan, the pizzeria was to be relieved of debt and put back on track. As this plan was no longer fulfilled, a creditor has filed for bankruptcy proceedings at the Linz Regional Court.