The insolvent mail order company Klingel Group has found a buyer for its tenth brand.
On Thursday, the parent company K – Mail Order GmbH & Co. KG announced that the Witt Group was taking over the Wenz brand including the domain. The creditors’ committee has already approved the takeover by the Otto subsidiary, but the approval of the antitrust authorities is still pending. The sale, the purchase price of which was agreed not to be disclosed, is scheduled to be completed at the beginning of March.
The brand, whose online shop sells fashion, jewelry, home items and accessories in Germany, Austria, Belgium and the Netherlands, joins a series of successful brand sales by the Klingel Group. Klingel’s parent company, K – Mail Order GmbH & Co. KG, which filed for bankruptcy in May last year and announced the cessation of business operations in August, has already been able to expand the jewelry brand Diemer, the clothing brands Alba Moda, Klingel, Babista, Sell Mona, Miamoda and Happysize as well as the shoe label Vamos. A new owner was also found for the health brand Wellsana.
“We have sold almost all of the Klingel Group’s well-known brands,” says Klingel managing director and restructuring expert Marcus Katholing. “With the current sale, we have achieved an optimal solution.”