Sporting goods retailer insolvent – range is radically cut to the rescue

The corona pandemic and the Ukraine war have hit many companies hard. Now it has caught a large sporting goods retailer from Munich.

Munich – With the end of the special corona rules and aids, more and more companies have to file for bankruptcy. For the first time since the economic crisis of 2009, the number of company bankruptcies in Germany is increasing again. Now it has hit a Munich company. The Keller Group has filed an application for the opening of insolvency proceedings under self-administration with the Munich District Court, reports TextilWirtschaft (TW).

Munich online sporting goods retailer files for bankruptcy

The online sporting goods shop includes the brands Keller Sports, Keller X and Keller Smiles. The supply chain crisis as a result of the corona pandemic and the worsened consumer and market conditions due to the Ukraine war are to blame for the critical situation TW. The events have led to a liquidity crisis and, last but not least, an investor has also withdrawn. This made going to the district court inevitable.

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But the management of Keller is optimistic that the self-administered restructuring process will succeed. According to the responsible restructuring expert Dirk Schoene von Dentons, the preliminary insolvency proceedings should run “until the end of February”, he explains TW. The approximately 100 employees can at least breathe a sigh of relief for the time being. Their salaries are secured by the insolvency money until the end of the proceedings.

Keller Group: This is how it should continue

At the end of February, business operations should be stable again and interested parties should be found for the company. But there will also be massive changes in the range. in the TW-Interview, Managing Director Marcus Trute explains that the Keller Group will only focus on running in the future. “We separate from everything else. Specifically from fitness, biking, alpine winter sports. That gives us great hope,” he explains. (ph)

List of rubrics: © Julian Stratenschulte/dpa