Berlin praline manufacturer Sawade is insolvent
The corona pandemic is now also bringing the traditional Berlin company Sawade to its knees. The company wants to save itself and is therefore aiming for a renovation.
Since 2019, the company has been aiming for expansion and modernization. But then Covid-19 came and the processes stalled, as the company explains in a press release.
“The salaries of the 84 employees are guaranteed for the coming months,” it continues. The five stores in Berlin should also remain open for the time being. At the same time, the management is taking measures to restructure the company and boost sales. External consultants should help with the implementation of the measures.
The company had already slipped into bankruptcy in 2013. A couple of investors took over the business, among other things pushed the online shop of the traditional house and changed the packaging. The 2020 financial year started profitably, then the Corona crisis hit with full force.
“Apart from the special effect of the corona pandemic, sales and earnings developed positively,” the statement said. The company does not publish figures.
Sawade is the oldest praline and truffle manufacturer in Berlin. A few years after it was founded, they supplied the Russian royal court. In the in-house factory in Berlin-Reinickendorf, the company still produces pralines from truffles and chocolate.
The “Favorite Man” box of chocolates costs around 14.90 euros and contains ten chocolates. The products are available nationwide and in German-speaking countries. Sawade is primarily found in specialist shops such as confectioneries, chocolateries and dessert shops.
AppelrathCüpper: Insolvency proceedings started
In April 2020, the popular fashion manufacturer AppelrathCüpper put employees and customers in a state of shock with its bankruptcy. “We were on the right track. Great January, great February, plan exceeded, previous year far exceeded. Then March caught us off guard with Corona and the house closings,” Managing Director Lothar Schäfer explained at the time.
The company was already in the process of restructuring before the outbreak of the corona crisis. With the bankruptcy in self-administration, the company wanted to at least save the branch network by the end of the year, massively expand the online shop and maintain the core business with targeted savings measures.
But business in the big cities is no longer going as expected, he reports Industry service “textile industry”. The frequency in the metropolises is still low, revealed Lothar Schäfer, CEO of AppelrathCüpper. It is completely unclear whether the company can save the previous 16 branches.-
The traditional company has been around since 1882. The manufacturer focuses on women’s fashion and offers a number of additional services in the branches. For example, customers can get a style consultation or have purchased clothing adjusted in the in-house tailor’s shop. Customers pay an average of 80 euros for a pair of jeans. Blouses are already available for 70 euros. Private label clothes start at 150 euros.
There are currently shops in Aachen, Bonn, Braunschweig, Bremen, Dortmund, Dresden, Essen, Frankfurt, Fulda, Hamburg-Alstertal, Hamburg, Kiel, Cologne, Mannheim, in the Main-Taunus-Zentrum and in Münster.
Coffee vendor San Francisco files for bankruptcy
Because of the longstanding financial problems, the Munich coffee house chain San Francisco Coffee Company has to file for bankruptcy. Max Liebig, provisional insolvency administrator, is looking for an investor for the remaining six cafés in Munich, Regensburg and Abu Dhabi.
The company, which was founded in 1999, had 17 locations in better times, according to the insolvency administrator. Problems had existed for a long time, in 2018 the original shareholders sold the chain, the cafes are now operated by franchisees and no longer on their own account with their own staff.
Aktiv-Schuh files for bankruptcy
The corona crisis does not stop at traditional companies. Now it is also affecting the popular Berlin shoe supplier Aktiv-Schuh. Due to the threat of insolvency, the company filed for insolvency under self-administration.
The “Shoe City” and “Hammer Schuh” chains are also affected. Aktiv-Schuh operates branches at around 60 locations in Berlin and in northern and eastern Germany.
With the bankruptcy, the management can continue to run the shops on its own responsibility. External consultants are now supposed to push ahead with the restructuring of the ailing company. According to the management, the retail chain is to be realigned.
Strenesse files for bankruptcy
The Swabian luxury fashion manufacturer Strenesse is bankrupt and will cease operations at the end of the year. Operations in Nördlingen are to be closed at the end of the year. Almost 56 employees are affected. A spokeswoman gives the corona crisis as the main reason.
The popular fashion retailer (blouse dresses for around 400 euros, blazers for 500 euros) has been in crisis for years. It was only in 2019 that Strenesse filed for insolvency proceedings in self-administration.
No sooner did the restructuring of the company appear to have been completed in early 2020 than the pandemic hit with full force. Strenesse can no longer compensate for the resulting effects, according to a press release. The Swabian luxury fashion manufacturer Strenesse is bankrupt and will cease operations at the end of the year. Here you can read more about it.-
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