“Stumbling is part of life, Richter keeps walking” – this is the message that Ferdinand Richter GmbH & Co KG left on its homepage and is intended to reassure customers. Since Thursday it has become clear that Europe’s oldest children’s shoe manufacturer has actually successfully passed the bankruptcy procedure. The restructuring plan was accepted.
Under the motto ‘Step by step towards the future’, Ferdinand Richter GmbH & Co KG informs visitors to its website that ‘Europe’s oldest and most traditional children’s shoe company will continue to exist.’ On the homepage you can also read: “We are working hard to be able to offer you the usual service again soon.”
Following the restructuring plan at the Regional Civil Court in Graz, an important step seems to have been taken in the return to usual services. The restructuring plan of the company, which has its official headquarters on Schärdinger Straße in Pasching, was accepted.
Claims amounting to 3 million euros
To date, 93 creditors have registered their claims, of which an amount of EUR 3.01 million has currently been recognised. The debts are repaid at a rate of 20 percent. The company, which has gone bankrupt, employs a total of 18 people: 15 in Austria, three in Germany.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
