Failing furniture chain must repay 5 percent of millions of debt by the end of May

Furniture chain Interio, with seven branches in Austria, must repay 5 percent of millions of debt by the end of May. That's mentioned in 5min.at

Earlier this year, an insolvency procedure was initiated concerning the assets of the furniture retailer "Interio," affecting six locations. "Interio" is required to repay 5 percent of the creditors' claims by the end of May. With debts totaling €9.4 million, the company's bankruptcy heavily impacted 78 employees and 110 creditors. Operating six furniture stores across Austria under the name "Interio," the company faced significant challenges. Despite plans for continuation at the time of bankruptcy, a restructuring plan was accepted by creditors. The Alpine Creditors Association (AKV) announced today that creditors had accepted the restructuring plan. Creditors will receive a 20 percent quota to fulfill their claims, payable within two years after plan acceptance. This includes a 5 percent cash quota due by May 31, 2024, followed by additional payments through December 31, 2024, August 31, 2025, and March 31, 2026, according to AKV.

Source: 5min.at