In insolvency proceedings concerning the Ski area Kasberg in Upper Austria, a restructuring plan was submitted to the Wels regional court on Tuesday. The managing director of Almtal-Bergbahnen GmbH, Friedrich Drack, stated in a broadcast on Wednesday night that this submission represents a crucial step towards saving the family ski area. According to the plan, creditors are expected to receive a 20 percent repayment rate on their demands within 2 years. The plan is set to be voted on in June, following intensive discussions with all creditors to secure the future of Kasberg.
The family ski area had long been facing financial difficulties. In 2016, an agreement was reached between the state and four municipalities to support the operation by covering annual losses up to 1 million euros for 10 years. However, a tourism concept demanded by the state failed due to objections from landowners, leading to bankruptcy in July 2023. Following the bankruptcy, a team led by Drack continued the operation during the 2023/24 winter season.
The responsible liquidator leased the operational business to the newly founded Kasberg Betriebs GmbH, with the contract expiring on April 30th. A restructuring plan was presented to the insolvency court just before the deadline. Now, further discussions and negotiations with creditors are needed to ensure the successful implementation of the plan and secure the future of the ski area.
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