A good week after the company had applied to the court for reorganization proceedings, the liquidator decided that the company could not continue. The reorganization plan was withdrawn so that the company had to close down and go bankrupt. At Scalahaus, 16 million euros in liabilities are offset by around four million euros in assets – resulting in over-indebtedness of twelve million euros.

Looking for solutions for house builders

As early as the week, numerous unsettled house builders reported to the Credit Protection Association of 1870. They have all already made down payments, their prefabricated houses are different: Some are missing the roof, others have just concreted the floor slab, said Aliki Bellou from the Credit Protection Association. “As far as we know, the debtor as well as the bankruptcy administrator tried to find a solution for a possible completion for precisely these cases. If that is not possible, then it must be checked whether this down payment or something similar should be registered in the insolvency proceedings.”

Increased construction costs given as the reason

A total of 88 employees are also affected by the bankruptcy. The company gave the reason for the bankruptcy as the construction costs had risen sharply in the last year.