Best Sales & Services GmbH, the company behind the Better Rich brand, is insolvent.
The competent district court in Münster has appointed Stephan Michels as provisional insolvency administrator. The aim now is to set up the brand with strong partners for the future, Better Rich announced on Wednesday. Michels is confident that Better Rich can continue as part of the bankruptcy proceedings.
According to Wolfgang Lohe, owner of Best Sales & Services GmbH, it is a difficult and very painful step to go to the district court in Münster to file for insolvency. However, this was indispensable in order to positively shape the further development of the company. The reasons for the insolvency are the overall economic situation, which was not foreseeable, rising costs and problems in the supply chain. In addition, there was a lack of capital to finance the “strong growth” of the brand. The company is already in “positive and intensive negotiations” with investors who are interested in the continuation and strategic development.
Ongoing business and deliveries should continue uninterrupted. The current order season is also being carried out by sales in the showrooms in Munich and Düsseldorf. Retail BR GmbH, which operates Better Rich’s online shop and its own trade and marketplaces, is not affected by the proceedings.