Salzburg Schokolade is aiming for restructuring
business
The confectionery manufacturer Salzburg Schokolade, based in Grödig (Flachgau), which has slipped into insolvency, is aiming for restructuring. The quota offered to creditors totals 100 percent, as the Credit Protection Association of 1870 informed on Friday.
On Friday, the regional court in Salzburg approved the reorganization plan application submitted by the debtor for a vote. The meeting for the restructuring plan and also the examination meeting were announced for February 7, 2022. The quota consists of a cash quota of 20 percent and a further quota of 80 percent within three years.
In order to ensure the fulfillment of this second quota payment, the debtor’s properties are transferred to the liquidator as trustee. The amount of the liability volume is only fixed on the day of the examination meeting, as is the number of creditors, it said on Friday from the KSV1870 page on APA request.
Significantly fewer creditors than initially feared
However, the number of creditors is significantly lower than the 600 who originally registered. The registration period for claims ends on Monday (January 24). According to the opening balance, the debts of Salzburg Schokolade GmbH amount to 27 million euros. This was offset by around EUR 23 million on the credit side. According to the company, the consequences of the pandemic forced it to file for bankruptcy in November 2021. The company has continued since then, according to the credit protection association, nothing has changed.
In December 2021 it was announced that the Meinl subsidiary “Heidi Chocolat” would buy the Salzburg confectionery manufacturer. The bankruptcy administrator and the creditors are said to have given the investor group around Julius Meinl V their approval. However, an agreement was still pending with the US group Mondelez regarding the trademark rights for the “Echte Salzburger Mozartkugel” from Mirabell, which produces Salzburg chocolate exclusively for Mondelez.