Insolvency drama in Vienna: Süba Bau reports bankruptcy with 29.7 million euros in debt!

Insolvency drama in Vienna: Süba Bau reports bankruptcy with 29.7 million euros in debt!

Wien, Österreich - On Friday, bankruptcy proceedings on the assets of Süba Bau and Projekterichtungs GmbH opened in Vienna, as the KSV1870 announced. The company that belongs to Süba AG was responsible for planning, building and coordinating residential and commercial properties. Not only 14 employees are affected by the developments, but also about 110 creditors. The height of the debts, which amounts to around 29.7 million euros, is shocking. This number is made by the insolvency administrator, lawyer Dr. Stephan Riel, still verified. The experts of the KSV1870.

causes and financial situation

The Süba Bau und Projekterstellungs GmbH attributes its bankruptcy primarily to the current market conditions, which are characterized by high interest rates, rising construction costs and restrictive investment behavior. Despite constructive conversations with creditors, no bridging financing could be secured for a restructuring concept, as the AKV explained. The turnover of the company in the 2023 financial year was 67.1 million euros, but the negative equity and loss of 9.89 million euros illustrate the precarious situation.

Current insights from Today. February 2025 can register. Süba AG, which is led by the Austrian real estate investor Klemens Hallmann, has expanded its activities to markets in Germany and Hungary in recent years and is now faced with a profound financial crisis, as is the