SANYUAN Restaurantbetriebs GmbH Applies for Restructuring Proceedings without Self-Administration to Overcome Financial Challenges

Vienna Commercial Court has recently received an application for restructuring proceedings without self-administration from SANYUAN Restaurantbetriebs GmbH, which operates the Chinese restaurant “Lucky Wok” in the city. The company, founded in 2009 and employing 25 people, has faced financial difficulties due to the Covid-19 pandemic. Despite these challenges, the company’s continued existence is financially secure, and restructuring measures have been put in place to address them.

In the 2022 financial year, SANYUAN Restaurantbetriebs GmbH reported a retained profit of EUR 1.529 million and liabilities of EUR 1.85 million. Creditors have been offered a 20 percent restructuring plan quota to be paid within two years. The company is working on adjusting prices and food offerings to improve its financial situation and ensure its sustainability in the future.

SANYUAN Restaurantbetriebs GmbH’s homepage explains that their buffet system is simple: customers take a plate and help themselves to whatever they want from the buffet. They can repeat this process as many times as they like without having to wait like at a running sushi restaurant. Customers also have the option to order individual dishes from a menu if they prefer to stay at their table. The restaurant offers “All You Can Eat Sushi” in Vienna, which is a popular choice for those who enjoy fresh and tasty Japanese cuisine.

The restaurant’s homepage explains that their buffet system is simple: customers take a plate and help themselves to whatever they want from the buffet. They can repeat this process as many times as they like, without having to wait like at a running sushi restaurant.

SANYUAN Restaurantbetriebs GmbH recently applied for restructuring proceedings without self-administration at the Vienna Commercial Court due to financial difficulties caused by the Covid-19 pandemic.

The drop in sales during the pandemic, coupled with increased costs, led to financial difficulties for the company founded in 2009 that employs 25 people.

However, despite these challenges, SANYUAN Restaurantbetriebs GmbH’s continued existence is financially secure.

In addition, restructuring measures have been put in place by SANYUAN Restaurantbetriebs GmbH to address these challenges.

In fact, during the 2022 financial year, SANYUAN Restaurantbetriebs GmbH reported a retained profit of EUR 1.529 million and liabilities of EUR 1.85 million.

Furthermore, creditors have been offered a 20 percent restructuring plan quota that will be paid within two years.

As part of its efforts to improve its financial situation and ensure its sustainability in the future,

The company is currently working on adjusting prices and food offerings.