Bankruptcy of the traditional company Ascot: owner Ketterer regrets

The 4-star Hotel Ascot, near the Zurich Enge train station, must close. 40 employees lose their jobs. Most recently, the home with its 74 rooms was still five percent occupied (VIEW reported).

The hotel on Tessinerplatz belonged to FIFA until last year, and since early 2020 it has been owned by real estate investor Norbert Ketterer, who is seen as tough and unconventional. Hotel manager Christian Frei “refused any concessions” on the rental, wrote the “Tages-Anzeiger”. “Survival is no longer possible with this load,” says Frei. Bankruptcy, inevitable.

“I never wanted to let it get that far,” says owner Ketterer in the “Sunday newspaper.” The German, who lives in a villa in Rüschlikon ZH, goes on to say that he deferred the rent to the manager of the Frei hotel when the closure occurred in spring. But it also failed to cancel all the claims. As an investor, you have obligations to the bank.

Frei also called for the rent to be waived or at least reduced. His two letters to investor Ketterer went unanswered. He wanted to see money again after the reopening.

In October it was about everything. “We feel obliged to report in writing the outstanding rent, which now amounts to 816,725 francs. We were informed of the impending insolvency through a response, ”says Ketterer. He learned about the bankruptcy from the media.