Suche
Mein Konto
Schuhbeck in a debt trap: 27 million euros demanded from creditors!
Alfons Schuhbeck's companies are facing a mountain of debt of 27 million euros. Insolvency proceedings offer little chance of repayment.
Schuhbeck in a debt trap: 27 million euros demanded from creditors!
What's going on with Alfons Schuhbeck? The well-known star chef is currently under pressure from his creditors, who want to get a total of 27 million euros back from his companies. The insolvency administrator Max Liebig recently spoke before the Munich I regional court and gave a gloomy outlook on the financial situation of Schuhbeck's company. Boyen's Media reports that the claims could vary over the course of the proceedings, but Liebig assumes that only a fraction can be repaid - and that in a low double-digit percentage range.
Unique delicacies and now debt? When bankruptcy proceedings were opened in 2021, it turned out that there was no significant accounting. No annual financial statements were prepared for years, and many of the companies affected had been insolvent since 2015. This makes the situation even more complicated, as the insolvency assets for the creditors are correspondingly meagre. Three of his businesses, namely Schuhbecks Gewürze, the Südtiroler Stuben and the Party Service, were sold, but the insolvency assets remain insufficient for the majority of his companies. T Online painted a similar picture and confirmed the insolvency administrator's sobering assessment.
The trend of increasing bankruptcies
Schuhbeck's fate is not the only example. A total of 21,812 corporate insolvencies were registered in Germany in 2024, which represents an increase of around 22.4% compared to the previous year. This is around 4,000 more than in 2023. The numbers IFM Bonn show that companies that have been on the market for several years are increasingly affected by payment difficulties. Many formerly self-employed people had also filed for bankruptcy, increasing concerns about debts from previous self-employment activities.
In total, around 270,000 commercial businesses and an estimated 90,000 freelance jobs were closed in 2024. Although bankruptcies are a widespread challenge, they are still a rare form of business closure. If the insolvency proceedings for Schuhbeck come to an end, it will be exciting to see what happens to his remaining companies and how much the creditors can actually get back.