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Munich sporting goods retailer insolvent - to save the range is now being radically cut

2022-12-15T04:13:15.119Z


Munich sporting goods retailer insolvent - to save the range is now being radically cut Created: 2022-12-15 04:57 By: Patricia Huber The corona pandemic and the Ukraine war have hit many companies hard. Now it has caught a large sporting goods retailer from Munich. Munich – With the end of the special corona rules and aids, more and more companies have to file for bankruptcy. For the first tim


Munich sporting goods retailer insolvent - to save the range is now being radically cut

Created: 2022-12-15 04:57

By: Patricia Huber

The corona pandemic and the Ukraine war have hit many companies hard.

Now it has caught a large sporting goods retailer from Munich.

Munich – With the end of the special corona rules and aids, more and more companies have to file for bankruptcy.

For the first time since the economic crisis of 2009, the number of company bankruptcies in Germany is increasing again.

Now it has hit a Munich company.

The Keller Group has filed an application for the opening of insolvency proceedings in self-administration at the Munich District Court, reports

TextilWirtschaft (TW).

Munich online sporting goods retailer files for bankruptcy

The online sporting goods shop includes the brands Keller Sports, Keller X and Keller Smiles.

TW

explains that the critical situation is due to the supply chain crisis as a result of the corona pandemic and the deterioration in consumer and market conditions due to the war in Ukraine

.

The events have led to a liquidity crisis and, last but not least, an investor has also withdrawn.

This made going to the district court inevitable.

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But the management of Keller is optimistic that the self-administered restructuring process will succeed.

According to the responsible restructuring expert Dirk Schoene von Dentons, the preliminary insolvency proceedings should run "until the end of February", he explains to

TW.

The approximately 100 employees can at least breathe a sigh of relief for the time being.

Their salaries are secured by the insolvency money until the end of the proceedings.

Keller Group: This is how it should continue

At the end of February, business operations should be stable again and interested parties should be found for the company.

But there will also be massive changes in the range.

In the

TW

interview, Managing Director Marcus Trute explains that the Keller Group will only focus on running in the future.

“We separate from everything else.

Specifically from fitness, biking, alpine winter sports.

That gives us great hope,” he explains.

(ph)

Source: merkur

All news articles on 2022-12-15

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