The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hotel / Restaurants Accommodation And Food Service Activities Accommodation 55.1 - Hotels And Similar Accommodation
100 - 500 jobs Number of planned job losses
Announcement Date
27 November 2023
Employment effect (start)
1 February 2024
Foreseen end date
Description
As announced on 27 November 2023, the hotel chain Arcona Hotels & Resorts has filed for group insolvency in self-administration for its German companies, affecting up to 500 employees.
The COVID-19 pandemic, bottlenecks in energy supply and high inflation have led to his step. According to the company, salaries for all 500 employees are secured until the end of January 2024. It is unclear, how Arcona will move on from there, however, the company is optimistic that this step will help to restore its financial stability and ensure a successful future.
Arkona operates hotels in Weimar, Eisenach and on the islands Sylt and Rügen.
Eurofound (2023), Arcona, Bankruptcy in Germany, factsheet number 200597, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200597.
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