HS Footwear GmbH has submitted an application for the opening of standard insolvency proceedings.
The application was made this week at the responsible district court in Osnabrück. Malte Köster was appointed provisional insolvency administrator, his law firm Willmerköster announced on Friday. Köster is currently examining the shoe manufacturer’s continuation prospects.
HS Footwear GmbH, which is part of the Hamm Group from Osnabrück, produces shoes for the Scotch & Soda and Gant brands as a licensee. The reason for the bankruptcy application is now a “financial imbalance” caused by “the effects of the pandemic, a difficult market situation with continued reluctance to buy in the shoe segment as well as inflation and the recent extreme increase in energy prices”, according to the announcement. The other companies in the Hamm Group are not affected by the insolvency of HS Footwear GmbH.