Fashion entrepreneur Lena Hoschek applies for restructuring proceedings

She designs gorgeous clothes, and one of her iconic ribbon skirts even hangs in the wardrobe of Queen Maxima of the Netherlands. That's why the following news comes as a shock: Lena Hoschek is insolvent and on Tuesday initiated restructuring proceedings for her company at the Vienna Commercial Court. "We did not take this decision lightly, but given the current challenges, we have reached a point where I, as a responsible businesswoman, have to …

The Styrian designer is struggling with economic problems. The goal is to "continue business operations without restrictions"

She is one of Austria's best-known fashion designers: On Tuesday, Lena Hoschek and her company had to apply for restructuring proceedings at the Vienna Commercial Court. The goal: "Securing the company's long-term future."

The well-known Viennese fashion designer Lena Hoschek has slipped into bankruptcy. The company filed for restructuring proceedings without self-administration on Tuesday, a spokesperson announced via mailing. A continuation of the business, which employs 60 people, is planned. Hoschek operates two locations. Creditors receive a maximum of 20 percent of their claims.

“The clear goal is to continue the company,” it says in a press release.