After 100 years since the company was founded, the Klingel Group from Baden-Württemberg is filing for insolvency in self-administration. What this means for customers and employees:
One hundred years of fashion mail-order – and now this: Ironically, in the anniversary year, the mail-order company Klingel from Pforzheim in Baden-Württemberg is filing for insolvency proceedings in self-administration. It is one of many companies that have been shaken by the crises of recent years. HEIDELBERG24 reveals what the insolvency proceedings now mean for employees and customers:
| Insolvencies in Germany 2022 | 105.529 |
|---|---|
| Insolvencies in Baden-Württemberg 2022 | 9.107 |
Traditional mail-order company Klingel from BW files for insolvency – two subsidiaries affected
"Insolvency" – this is a term that, when it is mentioned, quickly sounds like closures, layoffs or even the end of a company. Insolvency in and of itself – if things go well – is a way out of the crisis. In the ongoing struggle for survival, Galeria Kaufhof also achieved a small victory a few months ago: the creditors approved the insolvency plan presented.
Now a traditional company from Baden-Württemberg is also affected: The Klingel Group from Pforzheim is filing insolvency proceedings on its own responsibility. In addition to the main company of the Klingel Group, K - Mail Order GmbH & Co. KG, the two subsidiaries Impressionen Versand GmbH and Schneider GmbH & Co. KG are also in insolvency proceedings.
After 100 years: Why is the Blade Group filing for insolvency?
As with so many other companies that have filed for bankruptcy in recent years, the Klingel Group cites customers' reluctance to consume since the start of the war in Ukraine, as well as significantly increased costs for catalog production and shipping, according to dpa. In addition, there will be a costly conversion of IT systems in 2022.
Now, increased digitization and a greater focus on online retail should also help with the restructuring of the company. In insolvency proceedings, the debtor's assets are to be secured by measures taken by the local court. "On personal responsibility" simply means that the management is left to the company concerned.
Klingel-Versand files for bankruptcy: What this means for employees and customers
"Business operations will continue, and customers will be able to place their orders and receive their goods as usual," assures Marcus Katholing of the restructuring company Pluta in a statement from the Klingel Group. This doesn't just mean giving the all-clear for customers who are worried about their orders, returns or online accounts.
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It is also a relief for the 1,800 employees of the three companies. Other companies of the Klingel Group also employ more than 250 people, but they are not affected. If you like to order a lot, you should be careful: For example, the DHL app recently received a negative price, among other things for data tracking. (paw)
