Swing Kitchen: Restructuring of Vegan Burger Chain Failed

"Together with the owner representatives who were ready to finance, the management had made intensive efforts until the end to find a solution with well-known investors from the gastronomy industry. However, since the necessary funds could not be provided in time, the only step left was to file for insolvency for the entire group," said the statement from the vegan burger chain Swing Kitchen. Affected are 130 employees at all seven locations in Austria.

No Further Restructuring of Burger Chain Swing Kitchen Pursued

The locations of the franchisees - two of them in Vienna and one in Switzerland - are to remain open for the time being. However, the chain is no longer pursuing restructuring. Whether individual branches will continue to operate or be closed is up to the respective insolvency administrators. Schillinger Vegan Holding filed for insolvency at the beginning of August - one day after the Swing Kitchen 019 Wien Mitte GmbH, an Austrian branch of the chain in Vienna-Landstraße, went bankrupt. Claims of 3.8 million euros were registered with the holding company by mid-October, and 3.6 million euros were recognized. The liabilities of the corporate group are currently said to amount to a good 15 million euros, according to the credit protection association KSV1870 in the afternoon.

(APA/Red)

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