The Lindner hotel group is financially bankrupt.
The well-known Lindner hotel chain is grappling with extinction. Expensive operational costs and prolonged lease agreements have compelled the family-owned enterprise to petition for bankruptcy, jeopardizing the well-being of 13 sites and approximately 850 workforces.
According to a piece by the "Rheinische Post," the Düsseldorf-headquartered firm has voluntarily filed for bankruptcy. Frank Kebekus, a restructuring expert lending aid to the company, corroborates this, stating that such action was necessary due to past commitments and the incumbent economic and strategic climate. High expenditures for rent, energy, and materials have reportedly prompted this step, with extended lease agreements posing significant problems.
"The Lindner predicament mirrors that of the Galeria retail chain," an insider claimed to the newspaper. The vast majority of location contracts were signed in the past and now represent a heavy financial burden.
The Düsseldorf Regional Court has appointed Dirk Andres as the temporary insolvency administrator. To save the hotels from closure, the contracts must be revised. The chain hopes that lessors will concede substantial reductions.
The Lindner family executives have yet to make any public comments regarding the bankruptcy. Prioritizing employee briefings, the aim is to preserve operations and establish a sustainable foundation for the future through self-administration.
The insolvency impacts 13 locations and around 850 staff members. The hotels, catering to the upper-mid-range market, can be found throughout Germany. These include the Berlin Kurfürstendamm, Düsseldorf Airport, Cologne Cathedral, Leverkusen BayArena, and Sylt. Of the affected staff, 650 are permanent employees, while 96 trainees and an additional 100 workers (depending on guest traffic) also share the fate.
Recently, various tourism sector companies have encountered hardship. The Achat hotels and Loginn hotels have filed for bankruptcy at the Mannheim Regional Court. Additionally, the June collapse of tour operator FTI garnered significant attention, leaving thousands of customers from the third-largest German tour operator after TUI and Dertour in disarray.
- In an attempt to save the hotels from closure, 'The Bank shall negotiate with the lessors to concede substantial reductions in the lease agreements.'
- Amidst the financial struggle, 'The Lindner family executives are prioritizing communication with employees, aiming to assure operations and establish a sustainable future through self-administration, as guided by 'The Bank's directions.'
