As of: February 3, 2024, 2:28 p.m
By: Mark Stoffers
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Not only Arko has to file for bankruptcy, but fate also befalls two other Deutsche Confiserie Holding companies.
(Archive image) © Axel Heimken
Arko, Hussel and Eilles have to file for bankruptcy.
The bankruptcies of the popular confectionery retailer affected 300 branches and 1,200 employees.
Norderstedt/Wahlstedt – They are an integral part of the city centers and main train stations and yet a trip to the popular sweet shops could soon be history.
The confectionery, coffee and tea companies Arko, Hussel and Eilles of Deutsche Confiserie Holding have filed for bankruptcy again.
It is the next bankruptcy of a well-known traditional brand within a few days and another case in an ongoing wave of bankruptcies that is rolling through Germany.
At the beginning of the week, the luxury department store KaDeWe had to file for bankruptcy due to “exorbitantly high rents”.
A well-known fashion retailer was also hit in the middle of the month.
Now Hussel, Eilles and Arko also have to bow to the economic circumstances.
The company's bankruptcies affected 300 branches across Germany.
Popular confectionery retailers file for bankruptcy: 1,200 employees at Arko, Hussel and Eilles affected
The applications to the Norderstedt district court were published on Friday in the official insolvency portal “Insolvency Notices”.
The reason for the bankruptcy is apparently that the retail sector has been struggling with the poor consumer mood in the country for months.
It is the two bankruptcy filings within a few years.
Three years ago, Arko, Eilles and Hüssel had to file for bankruptcy due to the Corona crisis.
This also has consequences for the specialist retailers Arko, Hussel and J. Eilles GmbH & Co. KG.
that led to this step.
According to a report by “Wirtschaftswoche”, around 1,200 employees are affected by the insolvency of the popular confectionery retailer.
Their wages and salaries are initially secured for three months through the insolvency benefit.
What will happen to the employees and the branches in the future is not yet known.
Arko files for bankruptcy: the next traditional brand after Sportscheck and Galeria goes bankrupt
The only thing that is certain is that after the insolvencies of Arko, Hussel and Eilles, other traditional companies in Germany will be affected in addition to Galeria and Sportscheck, although these are not among the insolvent companies in René Benko's Signa Group.
Nevertheless, the employees are in limbo after the second insolvency of the subsidiaries of Deutsche Confiserie Holding, as are those of Galeria Karstadt Kaufhof after the renewed application for insolvency.
But it's not just traditional brands that are well-known throughout Germany that are in financial trouble; a German beverage manufacturer also had to file for bankruptcy at the beginning of January after 75 years.