Bankruptcy worth millions

Well-known sparkling wine producer A-Nobis becomes a restructuring case

A-Nobis is insolvent, but will continue to operate

(Bild: Reinhard Judt)

Despite support from the state, the Zurndorf-based company applies for restructuring shortly before New Year's Eve. However, the company is to continue as a going concern.

Only last year, the state had bought around 200,000 bottles from the renowned winery in order to secure the company's liquidity. In the end, however, this measure was not enough: Norbert Szigeti's A-Nobis Sektkellerei - his brother Peter also runs the well-known Szigeti sparkling wine cellar in Gols - filed for bankruptcy. Restructuring proceedings without self-administration were opened at the Eisenstadt regional court.

6 million euros in debt
The total liabilities amount to more than 6 million euros. This contrasts with assets of 1.2 million euros.

Employees are still waiting for money
70 creditors are affected by the insolvency proceedings. There are currently 12 employees at A-Nobis, according to the Alpenländische Kreditorenverband. They are already waiting for their wages and Christmas bonuses in November.

Corona as the trigger
The coronavirus pandemic is cited as the trigger for the bankruptcy. At the time, the sparkling wine producer was unable to generate sales as planned. In addition, A-Nobis was unable to raise the funds to repay the new building in Zurndorf or find an investor.

Property to be sold
A restructuring plan has been submitted to ensure that the company can nevertheless continue. It is envisaged that the creditors will receive a 20 percent share. This is to be financed by the continuation of the company and by third parties. The winery and the property are to be taken over and sold by Hipster Invest GmbH - which is expected to generate 4.2 million euros. The company itself will relocate to Gols.

Bottles remain with the state
And the 200,000 bottles of raw sparkling wine? The plan was for A-Nobis to buy them back after three years. That is now a thing of the past. Instead, they are to be sold on the open market. There are already talks with two interested parties, explains Michael Gerbavsits, Managing Director of the Burgenland Business Agency. There will be no financial loss for the province.

The other half of the risk was assumed by a bank. It has also stored bottles as collateral.