Lindner Hotels has provided an update on its restructuring progress following its filing for insolvency in December 2024. The company remains committed to completing the process with a proposed insolvency plan by mid-2025, as it continues to operate smoothly across all locations.
Restructuring progress and insolvency filing
In December 2024, Lindner Hotels filed for insolvency under self-administration, acknowledging that restructuring efforts could no longer offset the impacts of inflation, rising costs, and the ongoing recession. The company has continued to manage its operations effectively, despite the financial challenges.
Dr. Frank Kebekus, the General Commissioner overseeing the process, commented, “We are smoothly continuing the operations of Lindner Hotels AG and are in close and constructive discussions with all stakeholders and partners.”
This marks a steady progression in the company’s restructuring efforts, which are expected to culminate in the submission of an insolvency plan in the second quarter of 2025.
Operational stability amidst financial challenges
Despite the difficult financial environment, Lindner Hotels has managed to stabilize its operations. Negotiations with lessors led to constructive solutions, preventing the need to close any hotels and preserving jobs within the company.
Structural adjustments to the company’s headquarters in Düsseldorf have also been successfully implemented since the official commencement of the self-administration process.
“The entire operational process within the group is running smoothly” stated Frank Kebekus. “The financial plan has been fully adhered to, and we are looking ahead with confidence to the upcoming summer season.”
Plans for the future: insolvency plan and market outlook
The next steps in the restructuring involve consolidating contributions from various creditor groups into a formal insolvency plan. This plan is set to be finalized by the second quarter of 2025 and will be presented to the Düsseldorf District Court for approval.
“Our goal remains to conclude the self-administration process as planned through an insolvency plan by the summer of this year” stated Frank Kebekus.
As the company moves forward with its restructuring efforts, the outlook for the summer season remains positive. Lindner Hotels continues to demonstrate resilience in the face of financial adversity, maintaining stable operations and moving closer to completing the restructuring process.
