Deerberg GmbH is insolvent.
The fashion provider from the Lüneburg Heath has filed an application for the opening of insolvency proceedings with the responsible district court in Uelzen, Deerberg announced on Thursday. The court approved the application on June 20 and appointed the restructuring expert Friedrich von Kaltenborn-Stachau from the law firm BRL as provisional insolvency administrator.
Like many other fashion companies, Deerberg has also felt the effects of consumer restraint due to inflation and the further consequences of the Ukraine war and now has to reposition itself. Meanwhile, operations will continue and the phygital stores will remain open, the company said. The wages and salaries of the 270 employees are also secured in the “coming months”.
Discussions with investors are ongoing
Deerberg is already in contact with various potential investors. “The investor process initiated before the bankruptcy should be continued,” said Von Kaltenborn-Stachau. “Together with the management, I am trying to find a speedy solution for the restructuring of the traditional company Deerberg.”
The company was only able to complete a financing round at the beginning of 2020, which followed a restructuring started in the previous year. In the process, multi-channel sales were optimized and the range renewed. In 2022, the fashion retailer increased the volume of external financing in order to achieve its strategic goals – digitization, international expansion, growth in the core markets and expansion of the range.
Deerberg was founded in 1986 by Stefan Deerberg, who retired from operational business at the end of 2020. The company, based in Velgen, Lower Saxony, focuses on sustainable clothing, shoes and home textiles.