Companies

Görtz declares new insolvency

Jan 27, 2025 Germany

The long-troubled German footwear retailer has filed for insolvency once again, after its previous insolvency proceedings ended in July 2023

The Hamburg District Court has opened weak provisional insolvency proceedings against the assets of Görtz Retail GmbH. Under this arrangement, the provisional administrator must approve the debtor’s actions for them to take effect but does not have sole authority over the assets.

In July 2023, Görtz emerged from insolvency proceedings for both the parent company and its subsidiaries, Görtz Retail GmbH and Görtz Logistik GmbH, following a comprehensive reorganisation. Austrian CK Technologies acquired the German company in June 2023 and is now the sole owner, with Hamburg-based entrepreneur Bolko Kissling taking on the role of chairman.

However, the retailer continues to struggle, having recently been ordered by the same court to vacate two of its Hamburg stores (in the City Center Bergedorf and Alstertal shopping centres). According to media reports, Görtz Retail GmbH owes its landlords a total of more than 700,000 euros in rent, interest and other costs.

In addition, the stores on Spitalerstrasse and in the Europa Passage, as well as in the Altona Mercado and the Elbe shopping centre, are also facing proceedings on eviction. The Görtz stores in Lüneburg and Henstedt-Ulzburg have already been ordered to vacate in December 2024.

Sources: Across Magazine and Shoe Intelligence

Image Credits: hoffmann-interior.com

Germany Store Insolvency Retail