VASCO in Vienna: Gemauftück der Gastronomie closes after bankruptcy!

VASCO in Vienna: Gemauftück der Gastronomie closes after bankruptcy!

Seilerstätte 19, 1010 Wien, Österreich - The "Vasco" restaurant, known for its upscale Mediterranean kitchen in the 19, Vienna, has filed for bankruptcy and closes after only 18 months of its existence. The operating company, Fichtegasse 2 Restaurant Betriebs GmbH, submitted the bankruptcy application on May 15, 2025. According to the report of Kosmo , the liabilities of the restaurant amount to over 650,000 euros, whereby 554,000 euros are not available to the partner and 84,000 euros in demands from creditors and 20,000 euros in demands from the landlord.

The challenges for the restaurant started early after the opening. Despite its exquisite gastronomic orientation, which united influences from Italy, Spain, France and Portugal, those responsible were unable to maintain economic stability. A planned Shanigarten with 14 places was never realized, and personnel problems that were accompanied by the discharge of the first chef led to weekly closures. While the search for a successor further difficult, the frequency of visitors remained under the expectations, and the partner was not ready to provide additional capital, which ultimately led to bankruptcy.

economic framework conditions

The bankruptcy of the "Vasco" reflects the tense situation in Austrian gastronomy, a sector that is heavily burdened by high costs for food, rents and personnel and an acute shortage of skilled workers. Between January and September 2024, over 1,100 catering businesses in Vienna reported bankruptcy, such as today . This number represents a historical maximum.

The head of the KSV1870, Karl-Heinz Götze, warned last year of the business situation in the industry before worsening and increasing the bankruptcies. In 2024, Austria recorded a total of 6,550 bankruptcies, which means an increase of 22 % compared to the previous year. The forecast for 2025 calculates with 6,500 to 7,000 corporate insolvencies, which the precarious situation particularly illustrates, as on Gast

The financial problems of the “Vasco” are not an isolated case, but part of a larger trend. More and more restaurants are forced to close their doors, given the steadily deteriorating economic conditions. The closure of the restaurant is final and is looked after by an external lawyer as part of the bankruptcy proceedings. Future developments could be tragic for the industry, since many believe that without fundamental changes and support from regulation, sustainable recovery is not possible.