In June, the retailer Schuh GmbH & Co. KG, based in Fellbach, filed for bankruptcy, and on Tuesday by the Stuttgart District Court, the self -administration procedure was opened.
“The reorganization of the shoe retailer can be continued according to the plan,” the company said in a message. The aim is still to “renovate the company as part of self -administration and to put up with future -proof”.
The general authority is “achieved an important milestone”
“We have reached an important milestone with the opening of the procedure,” emphasized Steffen Beck from the Restructuring Society Pluta Rechtsanwalts GmbH, who supports Schuh Graf’s management as a general activity representative in the ongoing procedure. “Now it is important to continue implementing the measures initiated and developing sustainable solutions for the future of the company with the participants.” The focus is still on “in particular the optimization of structures, the adaptation of processes and the examination of the branch network”.
The first two branch closings have been determined
The shoe dealer, who ran 27 branches of the concepts of Schuh-Mann and Quick Schuh in Baden-Württemberg at the time of the bankruptcy application, wants to concentrate on its profitable locations in the future. At the moment, “all branches would be checked as part of the renovation concept,” said the company.
The first effects have already been determined. “The branches in Altensteig and Esslingen are closed,” says the message. “Further statements about the future branch structure” are currently “not yet possible”.
Managing Director Götz Graf continues to focus on successful renovation. “We are confident that we can bring our company to a stable course with our partners,” he said. “Our thanks go to our employees who support the path taken with great commitment. I would also like to thank our customers for their support. They are still invited to buy in the shops from us.” The business operated “under full costs” after the opening of the procedure, the company said.