The next bankruptcy of a traditional German company: Schuh-Oase GmbH & Co. KG filed for bankruptcy a few days ago due to significant losses in sales. The shoe store Görtz had previously announced its bankruptcy.
On December 19, 2022, the retailer Schuh-Oase GmbH & Co. KG in Nassenfels, Upper Bavaria filed for bankruptcy. This was confirmed by the provisional insolvency administrator Matthias Hofmann on request from the fashion platform “FashionUnited”. . The reason for this is a significant drop in sales.
For Hofmann, it is a necessary step “after it became foreseeable that the company will no longer be able to pay the costs incurred from future income and from the existing financing in the medium and long term.”
Schuh-Oase files for bankruptcy – around 50 employees affected
Hofmann explained that thanks to “government aid on the one hand and concessions on the part of the landlords of the ten branches”, the company was able to absorb the decline in sales. With the expiry of the agreements with the landlords at the turn of the year, however, the company will no longer be able to secure its financial requirements in the medium term. Until then could the business operations of all stores to be “continued without restrictions” for the time being. The salaries are also secured by the insolvency money until the end of February. are affected around fifty employees.
Hofmann adds: “In my opinion, there is a long-term perspective for the company above all if it succeeds in agreeing new conditions for the future with the landlords of the 10 branches, even if the sales level is lower than before the Corona pandemic still enable a cost-covering continuation.” Accordingly, the future also depends on the concessions made by the landlords.