Case No.: GL1G/GRz/80/2024
MB/LAW is pleased to announce the successful completion of arrangement approval proceedings for an entrepreneur operating a combined gastronomy and fitness business—specifically, a restaurant and a gym equipped with a sauna and solarium.
The entrepreneur had been active since 2021 as a partner in a civil partnership (spółka cywilna). The partnership operated a leased commercial space used as a restaurant and a fitness facility. The main customers were restaurant guests and gym members. The premises, including equipment, were leased. The partnership’s revenues in 2023 amounted to approximately PLN 740,774. The business employed 7 people under employment and civil-law contracts, with total monthly salary costs of approximately PLN 22,581.
Causes of Financial Difficulties
At the end of 2023, the business fell into financial distress due to a combination of external factors, including:
- COVID-19 pandemic restrictions, which severely limited operations in the gastronomy and fitness sectors, reduced foot traffic, and forced the business to take external financing to maintain liquidity.
- War in Ukraine, which led to a sharp increase in energy prices across Europe, significantly raising operational costs.
- Declining customer numbers, causing a drop in profitability.
- Rapid interest rate increases, which substantially raised loan and credit instalments.
- Tax changes under the “Polish Deal”, including an increase in health insurance contributions and changes to their deduction rules, as well as higher liabilities toward ZUS and the Tax Office.
Restructuring Process and Court Approval
Thanks to the work of the arrangement supervisor, attorney-at-law Michał Burek, LL.M., qualified restructuring advisor (licence no. 1665), and the support team, it was possible to reach an agreement with creditors, conduct the voting process, and obtain approval of the arrangement.
The court confirmed the arrangement by order dated 18 November 2024.
Key Terms of the Approved Arrangement
1. Public creditor (ZUS)
- Full repayment of the claim within 10 months from the month of publication of the notice of finality.
- Liability was joint and several between the partners of the civil partnership.
2. Bank creditor (ING Bank Śląski S.A.) – joint and several claims of the partners
- 3-month grace period,
- Repayment of 100% of the claim, including principal, ancillary claims (penalty interest and fees), and interest accrued before and after the arrangement date,
- Repayment in 108 equal monthly instalments.
3. Other creditors
- Remission of interest and ancillary costs, including collection costs,
- No interest accrual from the date the arrangement became final,
- 3-month grace period,
- Repayment of 100% of principal in 60 monthly instalments:
- Instalments 1–20: 1% of principal each,
- Instalments 21–60: 2% of principal each.
If your business is facing liquidity problems or risk of insolvency, we invite you to contact us.
We approach each case individually and comprehensively:
- negotiate with creditors,
- prepare realistic restructuring proposals,
- and actively support entrepreneurs in regaining financial stability.
MB/LAW can help you protect your business and restore its long-term viability.
