Probate deferral

Refurbishment

Touristische Unternehmung Grächen has applied for a provisional debt-restructuring moratorium due to its impending insolvency as at 08.02.2024. This was approved by the trustee and the district court. From 8 June 2024 to 8 June 2025, TUG AG was successfully transferred to a definitive debt-restructuring moratorium, which could have been extended for a maximum of 12 months if there was a prospect of successful restructuring. There were also other courses of action that were not chosen for various reasons. We are now on the arduous path of the debt-restructuring moratorium, which must be implemented consistently and without further discussion.

Four points

Concept


The aim of the definitive debt-restructuring moratorium is to conclude a debt-restructuring agreement with a dividend settlement. The current restructuring concept provides for a capital reduction of 90%, a debt waiver of 80% and a recapitalization in the form of a share capital increase of at least CHF 6 million.

To ensure that the restructuring can be implemented successfully and that the company is on a sound footing in the long term, operational measures are the first step in the restructuring process. Some of these have already been successfully implemented this winter, such as the termination of the energy supply contract. The shareholders must then approve a capital reduction of 90%. They will only do so on condition that the creditors agree to a debt waiver of 80%. The creditors will only agree to a debt waiver if the continuation of the company as a going concern is secured by a successful recapitalization of at least CHF 6 million. This means that all decisions are interlinked and mutually conditional.

In a nutshell, the renovation steps consist of four points:

  1. Implementation of operational measures to increase profitability
  2. Shareholder approval of a capital reduction in the amount of 90%
  3. Waiver of claims by creditors in the amount of 80%
  4. Ability to continue as a going concern by means of a recapitalization of at least CHF 6 million

The current status is

Last update: 21.3.2025
Updated every 2-3 days

Secured2’100’000.00
Signed1’606’000.00
Donations14’788.00
Total:3’720’788.00

Drawing list

Ramon Zenhäusern

It would be a shame if there was no longer a ski area in Grächen. I spent many hours training on the Hannigalp, which helped me to achieve my successes. I wish you every success with your share subscription.

Ramon Zenhäusern
Ski racer

Martin Schürch

In the coming months, the future of the mountain railroad in Grächen will be a top priority. A successful, sustainable restructuring is crucial for the tourism industry, the municipality and the region. The support of everyone is necessary for this recapitalization to succeed. Everyone who is interested in tourism in Grächen should be aware of the urgency and actively help.

Martin Schürch
Mayor

Philipp Possa

Thanks to the debt-restructuring moratorium, TUG AG’s operations and in particular the 2024/2025 winter season have been secured. The task now is to implement the restructuring by means of sufficient recapitalization. The restructuring is absolutely essential in order to avert bankruptcy for TUG AG and to be successfully released from the debt-restructuring moratorium.

Philipp Possa
Trustee Transliq AG

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