The insolvent mail order company Klingel Group has sold another brand. On Wednesday, the company announced that its subsidiary Schneider GmbH & Co. KG would be taken over by Adler Vertriebs GmbH & Co. Werbegeschenke KG. The Klingel Group announced that the company, which specializes in promotional products, is “well positioned for the future” under the roof of the new owner.
The previous subsidiary Schneider, which, according to Klingel, “offers printable promotional and gift items as well as furniture and accessories for business and private customers via its own online shop” and works “with marketplaces and wholesale partners,” has been going through insolvency proceedings under self-administration since May 2023. This is now nearing completion.
“The insolvency plan was submitted to the court at the beginning of the year and the creditors unanimously approved the insolvency plan at yesterday’s discussion and voting session,” explained the Klingel Group. “The plan presented has already been confirmed by the Karlsruhe District Court. This means that the insolvency proceedings can also be annulled.”
The Klingel mother K – Mail Order GmbH & Co. KG, which filed for bankruptcy in May last year, has, in addition to Schneider, also sold its clothing brands Alba Moda, Klingel, Babista, Mona, Miamoda and Happysize as well as the jewelry supplier Diemer , the shoe label Vamos, the health brand Wellsana and the online shop Wenz.