The Munich e-commerce specialist Keller Sports has ceased operations. The search for a new investor for the company, which filed for bankruptcy last fall, was unsuccessful, the retailer said on Tuesday. As a result, the insolvency administrator Christian Gerloff, with the approval of the provisional creditors’ committee, decided to discontinue the activities. For the parent company Keller Group GmbH, “mass inadequacy according to § 208 Insolvency Code (InsO) will be reported,” the company said.
In a “Europe-wide investor process” initiated after the insolvency application, “despite intensive negotiations with several interested parties, no viable future solution could be found for the sporting goods retailer with its around 60 employees,” the company admitted. “Negotiations with one bidder about a continuation were about to be concluded, but this bidder unexpectedly withdrew his offer shortly before the contract was signed.” There are currently no other interested parties. According to a statement, “the cessation of business operations is imperative due to the business and liquidity situation”.
The Keller Group filed for bankruptcy under self-administration on November 30, 2022. According to the company, the reasons were “the global supply chain problems and the significantly worsened consumer and market conditions”. The regular procedure was opened on March 1st.