Schuhhaus Klauser GmbH & Co. KG and Salamander Deutschland GmbH & Co. KG have both opened insolvency proceedings under self-administration.
The procedure of the shoe suppliers from Wuppertal, both of which belong to Ara AG, was opened on February 27th, the law firm CMS confirmed to FashionUnited. The specialist magazine Schuhkurier had previously reported on it. The district court in Wuppertal appointed Christian Holzmann from CMS as trustee in both cases.
Holzer was already appointed provisional administrator in the protective shield proceedings of the two companies in December. At that time, “the significant deterioration in the economic environment and the associated reluctance to buy on the part of consumers” was the reason for the renovation, according to a statement.
For the 2020 financial year, the group recorded a balance sheet loss of almost 36 million euros. Due to Corona, sales fell by 190 to 413 million euros. This negative development could not be reversed after inflation and the Ukraine war at the beginning of this year could not increase the mood of consumers to buy.