Innerkrems - Lift Operating Company Goes Broke, Restructuring Proposed

Antares Star GmbH, the operating company of Innerkrems cable cars, has been declared insolvent.

The cause of the bankruptcy is said to be unauthorized investments in the snowmaking system. In a court filing it is stated that “Due to the presence of the Innerkrems Alpine Performance Center, the training sessions for FIS racers and FIS races had to be organized earlier and more effectively. For this reason, the managing director at the time invested in a snow-making system. This without the approval of the shareholders and although the necessary funds were not available. The debtor's income results exclusively from the rental of this facility to Innerkremser Seilbahnengesellschaft mbH & Co KG. The rents were never paid by the Innerkrems cable car company. Only after the former managing director was dismissed did the resulting financial damage become known. "

It is understood that the resort has been fnancially troubled for some time with at least one previous insolvency in 2015.

Innerkrems is a family-friendly and versatile and ski resort in Carinthia. Innerkrems ski resort is located in the heart of the Nockberge Mountains at an altitude of 1,550m to 2,200m, making it one of Carinthia’s snowiest ski areas. The runs on the “Grünleitennock” offer great skiing pleasure – for beginners as well as experienced skiers. Beginners can learn everything they need to know in the ski school. The resort features 45 km slopes, 25 km of skiing routes and 10 ropeways. Discounts on single and group tickets apply.

Innerkrems has been a meeting place for regional, national and international ski racers and ski racers for many years. With its infrastructure, its know-how and committed dedication, the Alpine Performance Center particularly accompanies young squad runners of the Landesskiverband Carinthia on their way to the top. The training slopes are provided primarily to the Landesskiverband Kärnten and its clubs as well as to the Austrian Ski Association incl. Regional associations and ÖSV clubs. In addition, international teams can use the training facilities of the Alpine Performance Center by appointment.

• Operation of ski lifts and mountain railways, whereby the income results exclusively from the rental of the facilities, in particular a snow-making system from the Techno Alpin brand, to Innerkremser Seilbahnengesellschaft mbH & Co KG.
• Managing director and partner since August 16, 2021 Albert Martyniec
• Affected creditors: approx. 30
• Affected employees: none
• Liabilities: around EUR 2,043,500.00
• Assets: around EUR 1,642,500.00
• Redevelopment plan: 30% within 24 months after acceptance of the redevelopment plan.
• The redevelopment plan requirement is to be applied by renting the facilities to Innerkremser Seilbahnengesellschaft mbH & Co KG.

The creditors are offered a restructuring plan with a rate of 30 percent. The Innerkrems ski area has been in a crisis for years.