Montafon

Hotel operators slide into bankruptcy worth millions

The bankruptcy vulture is circling over the Hotel Vallüla in Montafon. It is still uncertain whether it can continue as a going concern.

(Bild: Christian Jauschowetz)

Bankruptcy proceedings have been opened for the assets of "Hotel Vallüla GmbH" in St. Gallenkirch at the Feldkirch regional court.

The liabilities accumulated by the two managing directors of the Montafon hotel amount to almost 6.5 million euros. Now a creditor under public law has pulled the ripcord and applied for bankruptcy proceedings to be opened. As reported by KSV1870, these were opened at the Feldkirch regional court.

The object of the company is a catering and accommodation business. Depending on the season, between six and eight people are employed at Hotel Vallüla in Montafon. The insolvency administrator will decide whether the business will continue to operate or whether the employees will be made redundant from one day to the next, but will first need to get a clearer picture of the company and its financial situation.

There are currently no reasons for the insolvency
The tasks of the insolvency administrator - as has now been decided by the Feldkirch regional court - will be taken over by the lawyer Martin Sam from Bludenz. KSV1870 does not currently have any information about why the hotel operators have slipped into insolvency. The reasons and other details relevant to the proceedings will be investigated in cooperation with the insolvency administrator, according to a press release from the credit protection association.

Creditor claims can be filed via KSV1870 until the court filing deadline (October 24, 2024). The good news for all creditors: some of the liabilities are likely to be secured by land charges.