Insolvent celebrity chef: anonymous investors save Schuhbeck

Insolvent celebrity chef
Anonymous investors save Schuhbeck

Alfons Schuhbeck’s financial future seems secure: Unnamed investors are taking over the companies of the insolvent celebrity chef. However, its legal problems have apparently not yet been resolved.

An unnamed investor group wants to save the companies of the insolvent celebrity chef Alfons Schuhbeck and a large part of the jobs. Schuhbeck’s Munich restaurant “Südtiroler Stuben”, the party service and the spice trade will be retained, as insolvency administrator Max Liebig announced in Munich. Schuhbeck’s second restaurant “Orlando” will be closed.

90 of the 120 employees will continue to be employed. This also includes Schuhbeck himself, whom the investors are not banning from the company. “His person and his brand were and will continue to be the basis of the business activities of the companies that have now been transferred,” said Liebig, according to the announcement. The investors want to take over the Schuhbeck companies on November 1st and merge them into a new company – Schuhbeck’s Company GmbH. Up until now, Schuhbeck operated a holding company and several subsidiaries.

This means that the insolvency proceedings will end quickly. Schuhbeck announced his insolvency in July and blamed the lack of state corona aid. However, the financial situation of his company network was very difficult years before Corona, as can be seen from the annual reports up to 2016 published in the Federal Gazette.

Tax investigations have been ongoing against the chef for a long time, as the restaurateur has admitted. The Munich public prosecutor’s office does not comment on the case with reference to tax secrecy. In addition, the Federal Office of Justice is taking action against Schuhbeck because he has not published any annual reports for his companies since 2016.

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