Insolvency shock: Klagenfurter Mid Holding GmbH fights for rescue!

Insolvency shock: Klagenfurter Mid Holding GmbH fights for rescue!

Domplatz, Klagenfurt, Österreich - In Klagenfurt there are serious news from the real estate industry. The renowned Mid Holding GmbH has filed for bankruptcy. The bankruptcy proceedings were opened at the Klagenfurt regional court and the company is faced with a debt mountain of around 67.5 million euros. Around 40 creditors and three employees who now hope for a solution are affected.

MID Holding GmbH, which was founded in 1979 and specializes in real estate development, proposes a renovation without self -administration. The aim of the procedure is the continuation of the operation and the creation of a renovation plan with a repayment of 20 percent to the creditors. The management lies in the hands of Walter Mosser, who implemented over 70 commercial real estate projects in his career.

difficulties in the Italian market

The problems for Mid Holding started a few years ago when two major projects were launched in Italy in 2017. These projects, for which all own funds are now used up, could not be completed due to difficulties in follow -up financing by local banks. It is particularly evident that over 60 million euros were not financed by domestic banks. The financing situation on the Italian market is extremely challenging, which ultimately led to the default of the Mid Holding.

Part of the problems is also due to the economic environment in Italy, which often remains unavoidable for foreign investors. Walter Mosser recently had large plans with the acquisition of the former exhibition center in Trieste for 12 million euros, which have now stuck. The planned shopping center in Tavagnacco, which should have an investment volume of over 100 million euros, is also on the brink.

Current developments and outlook

Developments related to Mid Holding GmbH are not an isolated case. According to Statistics Austria It can be seen that bankruptcies have risen in the industry in recent years. The exact recording is subject to strict guidelines and is processed quarterly, which illustrates how dynamic and challenging the economic framework in the construction and real estate sector are designed.

The Klagenfurters have a careful look at the developments. The fate of Mid Holding once again shows us that even large companies can occasionally advise turbulence - a reminder for everyone who works in the eventful world of real estate.