Insolvency risk for 6B47: crises and declining prices drive the company into the tightness!

Insolvency risk for 6B47: crises and declining prices drive the company into the tightness!

The 6B47 Real Estate Investors AG, a renowned Viennese real estate developer, is facing bankruptcy with liabilities of 43.7 million euros. According to the KSV1870, the financial crisis is caused by rising loan rates, increased construction costs and a declining price level. Alexander Greifeder from the KSV1870 confirmed that the insolvency administrator must now check whether the company is continued or whether closure is essential. This review takes place during the deadline for the registration of claims that have been drawn by March 18, as well as in the reporting and examination day statutes on April 2. Around 15 employees and 130 creditors are affected by the bankruptcy, but 6B47 Austria GmbH & Co KG will not be affected by the bankruptcy and should be continued independently, reported vienna.at .

The 6B47 economic imbalance has been an issue for a long time. A debt rescheduling was necessary in 2022, and a banking consortium under the leadership of Raiffeisenbank International provided loans of a total of 360 million euros. In the summer of 2023, the company managed to sell one of its greatest problem children, the Althan Quartier in Vienna. This project included commercial properties, apartments, offices and a hotel. However, despite these measures, unexpected delays in project implementations and strongly declining real estate prices led to a new financial crisis, as puls24.at reported.

Currently, the 6B47 Real Estate Investors AG has 16 development projects in its portfolio, the control of which is to be organized from Austria in the future because all offices in Germany and Poland have been closed. The upcoming insolvency process will be decisive for whether the remaining projects can be continued or whether a final processing is inevitable.