Kloster Pforta winery faces insolvency threat in Saxony-Anhalt

The state-owned winery Kloster Pforta in Saxony-Anhalt is facing potential insolvency. An expert report by the auditing firm Ecovis, commissioned by the state government, warns that the current business model is not sustainable due to continuous losses. Without radical restructuring, the company is expected to face insolvency and over-indebtedness by 2027.

To address the liquidity crisis, the state government has approved a restructuring concept focused on significant cuts. The plan involves reducing staff and halving the cultivated area from 50 hectares to 23.5 hectares, retaining only the Saalhäuser and Pfortenser Köppelberg vineyards. Additionally, these vineyards will be sold to the parent company, Landgesellschaft, for one million euros and subsequently leased back. The Landgesellschaft is also expected to contribute two million euros to the winery's capital reserves as part of a planned four-year restructuring phase.