According to a report in the specialist magazine Textilwirtschaft (TW), the Munich-based clothing retailer Hallhuber GmbH has had to file for bankruptcy again. A provisional procedure in self-administration has already been approved by the responsible district court in Munich, the TW reported on Wednesday.
According to the article, citing a statement by the retailer, Hallhuber had to realign itself due to “multiple crises in the textile retail sector that are well known in the market and the resulting massive drop in sales”. The decision was therefore also made in order “to be able to actively pursue the search for a new financial investor”.
According to the TW, the lawyer Christian Gerloff was appointed Hallhuber’s trustee. In addition, “the restructuring experts Sven Tischendorf and Alexander Höpfner from the act AC Tischendorf law firm have been appointed managing directors”.
Hallhuber only completed insolvency proceedings two years ago
Hallhuber only completed its most recent insolvency proceedings two years ago. At the time, the company was in financial difficulties due to the effects of the Covid 19 pandemic. At the end of that process, the company was taken over by CEO Rouven Angermann and CFO Torsten Eisenkolb as part of a management buyout.
At the time, the new owners had announced an “omnichannel strategy” and the “consistent alignment of all business areas and processes to the existing, vertical business model” in order to “realize the company’s great potential for success”.