Peter Hahn GmbH has successfully completed its insolvency proceedings on its own initiative. With the cancellation of the insolvency proceedings by decision of the Stuttgart District Court on December 29, 2024, the way is now open for the takeover by the British Wourth Group. The investor and Peter Hahn had already signed an investor agreement in August last year.
Both companies focus on the same target group and offer fashion, fashion and lifestyle for best-ager customers and see “significant synergies in their business models,” according to a press release from Peter Hahn. While the Wourth Group serves markets in the UK, USA, Australia and Europe, Peter Hahn sells his collections in Germany, Austria, Switzerland and the Netherlands. “Together we will create a leading distance retailer for the best ager target group in Western Europe and Great Britain,” says the company.
Wourth Group, which owns the WoolOvers, Pure Collection and Roama brands, has already acquired a number of companies over the course of 2023, including Scotts & Co, Thought and Hotter.
The restructuring representative Dr. Andreas Kleinschmidt: “The long insolvency proceedings are over and we have created a solid foundation for the long-term survival of Peter Hahn.” This means the company can continue business operations with around 500 employees. Daniela Angerer, Managing Director of Peter Hahn GmbH, is optimistic: “With the Wourth Group we have found our dream investor. With them at our side as a strong partner, we have the best conditions to be successful in the long term in a challenging market environment.”
In the future, Peter Hahn will further sharpen the focus on his core business, i.e. high-quality women’s clothing for women aged 45 and over. In addition, the reduction of process complexity and the optimization of the multichannel approach should be at the center of the strategic orientation as well as the creation of a seamless customer experience.