After Bankruptcy: Vienna's Traditional Cafe Wortner Saved
The traditional Viennese café Wortner had to file for bankruptcy in mid-September 2024 and has since been positively continued. Now, the creditors at the Vienna Commercial Court have agreed to a restructuring plan by the operator Freenet GmbH, thus securing the continuation of one of the oldest Viennese coffee houses, reports Stephan Mazal from Creditreform.
Creditors Approved Restructuring Plan for Café Wortner
The creditors will be fully satisfied and will receive a quota of 100 percent. A cash quota of twenty percent has already been paid to the bankruptcy administrator. Three further partial quotas will be due within eight (20 percent), 16 and 24 months (each 30 percent). 65 creditors have registered claims amounting to around 700,000 euros.
The cause of the bankruptcy was the disruption of business operations by a construction site. The debtor employs 26 people. "The debts are to be paid in full - this will be made possible by the increase in sales after the end of the construction site," says Mazal.
Café Wortner One of the Oldest Coffee Houses in Vienna
The Café Wortner on Wiedner Hauptstraße 55 is one of the oldest coffee houses in Vienna and looks back on over 140 years of tradition. Ferdinand Wortner opened the Viennese coffee house on September 15, 1880 in the fourth district.
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