Companies

No impact on Vamos and Groundies from parent’s company partial insolvency

Jul 8, 2024 Germany

The sneaker brand Vamos and the barefoot shoe brand Groundies were not affected by the insolvency of Weltbild GmbH & Co. KG, a subsidiary of the German WB D2C Group

The insolvency of Weltbild GmbH & Co. KG, a subsidiary of the e-commerce holding company WB D2C Group, has not affected the footwear brands Vamos and Groundies. The other brands of WB D2C Group will continue to operate as usual. “Our business operations and processes remain stable, as well as our strategic direction and financial health remain unchanged”, said the company.

The parent company of Vamos and Groundies has recently filed for Weltbild’s insolvency at the district court of Augsburg. The court accepted the application and appointed Christian Plail of the law firm Schneider Geiwitz & Partner as provisional insolvency administrator.

Weltbild operated an extensive catalogue-based mail order business in Germany, which generated about 20% of WB D2C Group’s revenue. In addition to the impact of the conflicts in Ukraine and Israel on the supply chain, the business came under considerable pressure due to cost increases. The entry of new players from Asia exacerbated an already difficult situation. Weltbild has already gone through insolvency proceedings in 2014.

According to media reports, direct supply relationships between suppliers and Weltbild GmbH & Co. KG will be taken over by the individual brands and the details of this transfer will be finalised in the coming days. Deliveries, orders, and payments will continue as normal.

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