Collapse of the Graz driving school: restructuring failed, now bankruptcy!

Collapse of the Graz driving school: restructuring failed, now bankruptcy!

Roadstars GmbH on Jakominiplatz in Graz, known for its comprehensive driving courses, is facing existential financial challenges. According to the KSV1870, a restructuring process with self-administration was initiated on December 15, 2023, followed by the creditors' approval of a restructuring plan at the end of February 2024. This would have provided for repayment of all liabilities by February 27, 2026. But the crisis came to a head, and on April 8, 2024, the insolvency proceedings were legally confirmed and then repealed. Despite the takeover of the shares by TSA Kipperer Fahrschulen Service GmbH in July 2024, there are now tax-relevant corrections that resulted in the company becoming over-indebted.

New bankruptcy proceedings opened

How 5min.at Reportedly, bankruptcy proceedings have been initiated for Roadstars GmbH at the Graz Regional Court, which affects around 30 creditors. Particular drama arises from the withdrawal of the driving school permit by the previous operator, who did not inform the current management about this. As a result, an important exam date had to be canceled, which consequently significantly restricted operational activities. The newly appointed insolvency administrator, Mr. Stefan Weilder, will now examine the options for a possible continuation of operations in the interests of the creditors. The deadline to file claims is January 30, 2025, and the company's fate remains in limbo.