The Hamburg shoe retailer Görtz, which also has several branches in Austria, is bankrupt again. It is the second financial crisis in a short time.
According to the insolvency notification portal, the Hamburg District Court ordered insolvency proceedings for Görtz Retail GmbH on Monday. Lawyer Gideon Böhm of the Hamburg law firm Münzel & Böhm has been appointed as provisional administrator.
There are still about 30 locations in Germany and Austria
According to media reports, there are now around 30 branches in Germany and Austria.
First insolvency proceedings not until July 2023
It is the second financial crisis for the company in a short time. The first insolvency proceedings of Ludwig Görtz GmbH and its two subsidiaries Görtz Retail GmbH and Görtz Logistik GmbH were only ended in July 2023. Investor Bolko Kissling joined the traditional Hamburg company, which was founded in 1875.
“After extensive restructuring measures, it is time to get back to work on a successful future for the traditional company,” Kissling emphasized at the time. It also said that 650 jobs had been retained in its branches, logistics and headquarters in Hamburg.
In 2022, Görtz still had approximately 1,800 employees
At the start of the first insolvency proceedings in September 2022, Ludwig Görtz GmbH and its subsidiaries still had approximately 1,800 employees. At the time, the company still had approximately 160 branches in Germany and Austria. As a result, the company had to close numerous locations. This often concerned rent arrears.
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.
