The Austrian children’s shoe company Ferdinand Richter GmbH & CO KG, which has been in insolvency proceedings without self-administration since mid-November, is taking the next step: the restructuring plan meeting in the restructuring process took place at the Graz Regional Court for Civil Law Matters on February 1st.
So far, 93 creditors have registered claims with a volume of around 5.9 million euros, of which 3.01 million euros have initially been recognized. The following restructuring plan was accepted by the creditors: The insolvency creditors receive a quota of 20 percent of their claim, of which five percent in cash. This five percent should be paid out by the insolvency administrator within 14 days of the legally binding confirmation of the restructuring plan. The remaining 15 percent is to be paid in three installments, of which five percent by November 30, 2024 at the latest, another five percent by May 31, 2025 and the remaining five percent by November 30, 2025.
The company currently has 15 employees in Austria and three in Germany.
Richter is one of the oldest children’s shoe companies in Europe; the company, based in Pasching, Austria, has been producing children’s shoes since 1893.