ESPG AG Launches Restructuring Project Due to Impending Insolvency

ESPG AG, a property company focusing on science parks, announced its half-year 2024 financial figures, indicating an increase in revenue to EUR 7.9 million from EUR 6.3 million in H1-2023. Despite this growth, the company faces threats to its existence due to high financing costs, resulting in a negative EBT of EUR -4.1 million.

In response to the financial challenges, ESPG AG plans to file a restructuring project under StaRUG. This includes seeking creditor waivers and potential participation in the future success of the company. Investors have pledged fresh liquidity of around EUR 9.5 million, conditional on the restructuring plan's approval.

Frank Günther will lead the restructuring as the Chief Restructuring Officer. The company aims to stabilize its financial status and ensure long-term viability through these measures.