PressSplit
Gero Mure, a shoe salesman, is having financial problems due to the Corona crisis. An application for bankruptcy has been filed, but there is still hope.
Mannheim – The fashion trade in Germany is being hit by a wave of bankruptcies. Esprit was the latest to be hit, and the company is closing all 56 branches in Germany by the end of the year. The Hagen-based fashion retailer Sinn GmbH, with 1,500 employees and 41 branches in 36 cities, filed for insolvency in self-administration at the beginning of August. The company names Karstadt and Kaufhof are also history.
Shoe retailer Gero Mure files for bankruptcy: Reasons include the consequences of the corona pandemic
Now it has hit the Mannheim shoe salon Leone, Alexander Seppel, eK. The retailer, who operates six shops in Mannheim, Heidelberg, Karlsruhe and Baden-Baden under the name Gero Mure, filed for insolvency at the Mannheim District Court on July 22nd. This is according to the insolvency announcements portal of the North Rhine-Westphalian Ministry of Justice. Attorney Sandra Wirtz from the Mannheim law firm Depré was appointed as the provisional insolvency administrator.
Shoe retailer Gero Mure has filed for bankruptcy. © Dreamstime/imago
“Large parts of the shoe trade are in crisis due to the consequences of the corona pandemic and the sharp rise in material prices,” explained Alexander Seppel, owner and managing director of the 40-year-old family business, according to the trade magazine Textile industry Gero Mure’s economic difficulties. “Consumer restraint and the correspondingly lower demand from retail customers, in addition to the months-long plank reconstruction in Mannheim, had a significant impact on sales and liquidity.”
Shoe retailer Gero Mure is insolvent: Business operations continue without restrictions
After the redesign of Mannheim’s Planken shopping mile was completed in spring 2019, the side streets will be redesigned from spring 2021. The work is expected to last until November 2024.
The 10 largest cities in Baden-Württemberg – by population
View photo gallery
According to insolvency administrator Wirtz, business operations will continue without restrictions at all locations. The wages and salaries of the 40 employees are secured through insolvency benefits from the Federal Employment Agency until the end of September 2024. The aim now is to stabilize ongoing business operations and find a viable future solution for the company and its employees.
