Despite a possible new investor, the situation at Görtz does not seem to be easing. The insolvent shoe retailer in Hamburg is to terminate leases for 19 other branches, reports the industry magazine Textilwirtschaft, citing “well-informed circles”.
According to the report, the Hamburg shoe retailer gave notice to 19 landlords. Görtz makes use of the right to terminate leases extraordinarily as part of the impending inadequacy of the masses reported to the court at the end of March. According to the textile industry, renegotiations are currently underway with the locations affected by the closures, which could further reduce the number. In particular, large and cost-intensive locations such as Cologne, Frankfurter Zeil, Münster and Aachen are affected.
As part of the process, not only two Görtz flagships in Düsseldorf and Frankfurt am Main were closed, but a total of half of all the shoe retailer’s branches. However, the closures were foreseeable, because when the restructuring process was opened in December, Görtz CEO Frank Revermann said that the closure of numerous branches would be unavoidable. Before the bankruptcy, Görtz operated 160 branches in Germany.
At the request of FashionUnited, the shoe retailer does not want to comment on more precise figures and circumstances regarding the branch closures at the present time. At the moment, however, the management is doing everything in its power to continue successfully on the path to restructuring Görtz. A solution for the preservation and continuation of the company is being worked on together with the investor.