Shoe Retailer Schuhhaus Kocken Initiates Insolvency Proceedings under Self-Administration

Shoe retailer operates 16 branches in western Germany

Schuhhaus Kocken GmbH & Co. KG, headquartered in Viersen, has initiated insolvency proceedings under self-administration. The relevant district court in Mönchengladbach approved the corresponding application due to impending insolvency at the end of last week and ordered provisional self-administration. The company announced that business operations will continue at all 16 locations with 77 employees.

“The currently difficult situation of the inner-city retail trade with persistent consumer restraint makes it necessary to act decisively,” explained Managing Director Günther Kamp, who remains authorized to manage and dispose of the proceedings. “After reviewing all the options available to us, the self-administration procedure is the best way to ensure the long-term continued existence of our company in the interests of all those involved.” The aim of the procedure is to overcome the current crisis situation and make Schuhhaus Kocken sustainable, taking all legal options into account to set up.

The employees were informed about the initiated restructuring course. Their wages and salaries are secured by the Federal Employment Agency for a period of three months. According to a statement, the funds will also be sufficient to pay wages and salaries for the period after the expected opening of the proceedings. “Both all of our branches and our online shop will remain open, so we will continue to be available to all of our customers as we have in the past,” says Günther Kamp.

The Schuhhaus Kocken GmbH & Co. KG is supported in its restructuring course by the insolvency and restructuring expert Andreas Budnik and his team with the lawyers Julia Liebermann and Ruth Braukmann as well as Oliver Hoffmann and Daniel Salzburg from the restructuring law firm AndresPartner. In addition, the responsible district court in Mönchengladbach has appointed the lawyer Dr. Christian Holzmann from the law firm Brinkmann & Partner was appointed provisional administrator of Schuhhaus Kocken GmbH & Co. KG.

In addition to its location at the company headquarters in Viersen, Schuhhaus Kocken also has specialist shops and mono-label stores for the Tamaris brand at a total of 16 locations in the region around Mönchengladbach, Cologne, Düsseldorf and Leverkusen.