Creditors approve QimiQ restructuring plan after insolvency

Creditors have approved a restructuring plan for insolvent QimiQ Handels GmbH, a maker of products based on milk cream in Hof near Salzburg, ORF reports. They are due to receive 20 per cent of their claims within two months of the plan’s approval, but not before the court’s confirmation becomes legally effective.

The plan was approved by a majority at a hearing at Salzburg Regional Court on Thursday. Creditors submitted 203 claims totalling about 6.66 million euros. Of that sum, 4.73 million euros was recognised, while claims worth 1.93 million euros were disputed, according to creditor protection associations AKV Europa and KSV1870.

The insolvency proceedings, opened on 7 April, are being conducted without debtor-in-possession status. The insolvency administrator said the requirements for confirming the plan had already been met.

The company attributed its insolvency to sharp increases in milk prices in 2025, which raised production costs by about 15 per cent. A delivery suspension by SalzburgMilch GmbH in early 2026 and delayed payments from international major customers then led to its inability to pay.