GERMANY, Frankfurt. Two large restaurant chains are threatened with insolvency. State aid is to bridge the liquidity gaps.
With Maredo and Vapiano, two system gastronomes are suffering from measures against the spread of the coronavirus. The Vapino SE is insolvent since last week, reports food-service.de. The enterprise operates 55 restaurants in Germany in own direction. For rescue € 14 mill. of national assistance are necessary, which must flow within the next two weeks, in order to turn an insolvency away. 29 Vapianos are led by Franchisepartner. Their association stresses that their businesses are not affected by the financial difficulties of Vapiano SE.
Maredo is also running out of money. As a precautionary measure, an insolvency application was filed at the Düsseldorf district court at the end of last week. According to the management, the trigger was the massive effects of the Corona crisis, which first led to a serious drop in turnover and then to the closure of all restaurants. As a result, the company can currently no longer generate any income, while at the same time rents and salaries must continue to be paid.
The steakhouse chain operates 35 restaurants in Germany and two in Austria. Maredo Handels GmbH and Maredo Frische GmbH, joint ventures with food retailers for their own product lines and certified meat, are not affected by the proceedings. Their products will continue to be available in the food retail trade.