Hallmann talks about Süba insolvency: Hope for fresh start!

Hallmann talks about Süba insolvency: Hope for fresh start!

The bankruptcy of the property developer Süba AG is hitting waves in the Austrian real estate landscape. These developments were now officially confirmed by the Vienna Commerce Court when it opened the bankruptcy proceedings through the company, which is owned by Hallmann Holding. According to the press, 95 creditors are affected and the business of the company amounts to 226 million euros.

Klemens Hallmann, the investor behind the Hallmann Holding, said in an interview with Leadersnet that was responsible for the financial decisions of Süba AG at the board and that its holding is not can be held responsible. The Hallmann Holding was not involved in the operational business as a shareholder and made no liability for Süba AG.

The insolvency administrator and the renovation plan

The insolvency administrator, lawyer Patrick Gensbichler, now leads the procedure that provides for a renovation process without self -administration. The renovation plan provides for a quota of 20 percent that should be payable within two years. The financing is to be secured by the continued operation of the company and the support of an investor.

The causes of bankruptcy are complex: a increased level of interest and inflation, higher construction costs and sharper regulatory requirements have significantly burdened the financial situation of the company. Above all, the decline in the completion rates in new apartments is a major challenge, which is also discussed by Klemens Hallmann. He calls for a shoulder of politics and business to combat the lack of living space and promote a stable market.

Future view and realignment

The Süba AG was already delicadolidated from the Hallmann Holding group balance in 2023, which shows its equity in 2023 to around 403 million euros. The equity ratio rose to 42 percent. Hallmann still sees potential for the Süba and a positive view of the future. Hallmann Holding is planning a realignment with a clear focus on existing real estate, logistics properties, sustainable living and office space.

The current market situation is tense. As reports Exxpress, bankruptcies and uncertainties are widespread, which affects not only Süba AG, but also other companies in the real estate sector. The bankruptcy case of the Signa Group as well as several other bankruptcies in the industry have a skill light on the existing problem. The situation is particularly critical of smaller banks that award risky loans to real estate developers.

Klemens Hallmann also emphasizes the importance of corporate social responsibility in Hallmann Holding and their commitment to science, sustainability and culture. On June 3, 2025, he will take part in the Austrian World Summit to support climate protection and to draw attention to the challenges of the industry.