The Brussels business tribunal has approved insolvency proceedings requested by the Brussels-based club "Madame Moustache," its manager announced on Wednesday.
Maud Partouche, the club’s manager, expressed relief and joy over the decision, which aims to help the establishment recover from debt incurred following a ceiling fire in September 2022.
The club now has four months to present the tribunal with a financial plan acceptable to its creditors, outlining measures to reduce its debts and spread repayments over five years.
The tribunal has also recommended launching a crowdfunding campaign. According to Partouche, this has already been initiated to encourage public support for the club’s financial sustainability.
Additionally, the City of Brussels is reviewing a subsidy request to enhance the club’s concert offerings, Partouche revealed.
This is the club’s third insolvency proceeding. The previous two were initiated due to challenges during the Covid-19 period and the aftermath of the 2022 fire.
Meanwhile, a civil lawsuit against the building’s insurer is ongoing. The club, brewer Alken-Maes, and their insurers assert that the landlord of the premises on Quai au Bois à Brûler is responsible for the fire.
They are demanding reimbursement for soundproofing work, compensation for the second year of operational losses caused by the fire, and unpaid wages for company directors. The total damage is currently estimated at €650,000.
