The insolvency proceedings of the Hamburg shoe retailer Ludwig Görtz GmbH and those of the two subsidiaries Görtz Retail GmbH and Görtz Logistik GmbH have ended.
The competent district court ended the procedure after the announcement of the new investor and the legally binding confirmation of the restructuring plans on July 17, Görtz announced on Thursday. With the end of the insolvency proceedings, a reorientation in the operative business is now being sought.
Realignment of the existing locations
The shoe retailer’s locations are to be modernized and the service concept in the branches optimized. The range is also to be adjusted, with Görtz concentrating on core brands and promoting sales with private labels. In addition, the modernization and scalability of the logistics processes should be sought.
Investor Bolko Kissling, Managing Director at Vienna-based CK Technology Solutions GmbH, also wants to get involved with “innovative concepts” across the company, according to the announcement. “After comprehensive restructuring measures, it is time to work again on a successful future for the traditional company.”
Görtz applied for a protective shield procedure in September in order to restructure. As part of the restructuring efforts, it was decided to close most of the approximately 160 branches that the company had operated in Germany and Austria before the proceedings began.
After the procedure, 650 jobs in the branches, logistics and the Hamburg headquarters will be retained.