Insolvent restaurant chain: Vapiano sold 30 Restaurants in Germany

The restaurant chain Vapiano has found two months after the insolvency application by a buyer for dozens of Restaurants in Germany.

“The creditors Committee has today agreed to the sale of the substantial part of the business of Vapiano SE and its subsidiaries in Germany”, the company said.

In the case of the buyer, therefore it is a consortium under the leadership of the former Vapiano-Executive Board member Mario C. Bauer. The purchase price was a total of 15 million euros, and the transaction leg hold 30 of Vapiano operated Restaurants in Germany’s name. The remaining parts of the company were in the future, dispose of, nor to “”.

The Vapiano SE had made at the beginning of April at the Cologne district court a request for the opening of insolvency proceedings due to inability to pay. The procedure is effective 1. June opened, it was said in the message. The effects of the Corona-crisis for the already in the red writing companies too much.

The consortium had already delivered two weeks ago an irrevocable offer for the France business, it said on Tuesday more. The purchase price for this business has now been around 3 million Euro to 25 million Euro increased. “The acceptance of the offer is expected to take place in the next few days.”

At the end of April Vapiano had put the business up for sale. Both a sale of the entire worldwide business of the Vapiano group, as well as just a single Restaurant, it was concluded Portfolios and assets into consideration. The negotiations with interested investors, should be made, therefore, until the end of may 2020.

A total of SE and also in provisional insolvency proceedings contained operating subsidiaries are engaged in the Vapiano in Germany, more than 2500 employees. The Vapiano subsidiaries in France and Luxembourg, are not subject to insolvency proceedings.