The coffee wholesaler "Alvorada coffee distribution GmbH & Co" has submitted an application to the Commercial Court of Vienna for a restructuring process without self-management, reports the credit protection organization AKV. The company supplies its products to both retail chains and catering companies.
Seven employees and 46 creditors are affected by the bankruptcy. The assets of approximately EUR 1.4 million (of which EUR 1.1 million are encumbered with segregation rights) are offset by liabilities of approximately EUR 2.4 million. The causes of the bankruptcy are high fixed costs. Even a business consultant could not turn the wheel anymore. A few weeks ago, managing director Peter Kramberger resigned.
The company must be continued. The creditors will receive a quota of 20 percent within two years.
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