Internetstores GmbH has applied for the opening of insolvency proceedings.
It is the second subsidiary of online sporting goods retailer Signa Sports United NV (SSU) to file for bankruptcy within a week.
At the request of FashionUnited, a spokesman for the provisional insolvency administrator Christian Gerloff said it was currently too early to make an initial assessment or statements about the company’s future. The current aim is to stabilize business operations in order to enable the continuation of operational business. We are also working on a short-term solution to the current returns problem, as these are currently not possible for legal reasons. Customers are informed on the website that no returns can currently be processed.
The news follows the bankruptcy of SSU subsidiary Tennis-Point GmbH, which was announced on Friday. At the same time, it was also announced that preparations were already underway to initiate insolvency proceedings for several other areas of the company, including the umbrella company Signa Sports United.
Internetstores GmbH includes more than 32 web shops for bicycles, bicycle accessories, sporting goods and outdoor products, such as Fahrrad.de, Probikeshop and Bikester. The company has seven brick-and-mortar bike shops in Germany, and there are also other branches in Austria and Sweden.
Internetstores GmbH employs around 470 people.