Manuel Cardoso, a construction company, is looking to sell 443 m2 of office space at its head office in Niederkorn. Photo: Guy Wolff/Maison Moderne

Manuel Cardoso, a construction company, is looking to sell 443 m2 of office space at its head office in Niederkorn. Photo: Guy Wolff/Maison Moderne

With the bankruptcy of the construction company looming in the coming weeks, its estate agency is putting the Niederkorn-based company’s offices up for sale.

For sale: two offices measuring 288.95 m2 and 155.03 m2 respectively for €925,000 and €620,000. They are located in Niederkorn, at 241, rue Pierre Gansen, home to the head offices of the companies in the Manuel Cardoso Group, which is due to go bankrupt this summer.

The advertisements on the online property portal atHome.lu stand alongside those for eight other properties for which the Niederkorn estate agency Manuel Cardoso has a mandate.

The group is looking to sell 444 m2 of office space, for a total of €1.5m. Screenshot: Maison Moderne

The group is looking to sell 444 m2 of office space, for a total of €1.5m.  Screenshot: Maison Moderne

At least €20m in debt

Its last published balance sheet dates back to the 2021 financial year, at the end of which its profit was halved to €28,276.63. The limited liability company also had debts of €8.8m, down from €9.8m a year earlier.

But the main focus is on Entreprise Générale de Construction Manuel Cardoso, based at the same address. Here too, its last published balance sheet dates back to 2021, with a profit of €45,008.87, down 30% on the previous year. Its debt stood at €11.7m.

In 2021, this company employed 189 people, making it the core of the construction group in turmoil. Its technical manager, Daniel Cardoso Vaz, resigned on 19 July, followed a week later by Emmanuel Veriter.

The sale of the Niederkorn offices for €1.5m marks the start of a cash hunt for a group with a much higher level of debt.

This story was first published in French on . It has been translated and edited for Delano.

Related articles