Gero Mure files for bankruptcy
The German shoe chain Gero Mure has filed for bankruptcy as rising costs, online competition and prolonged effects of the COVID-19 pandemic take their toll on the footwear sector
The owner of Gero Mure stores, Alexander Seppel, has filed for bankruptcy. “Rising prices, online competition and the prolonged effects of Corona are putting increasing pressure on the entire footwear retail”, said the provisional insolvency administrator Sandra Wirtz, highlighting the sharp rise in material prices as a consequence.
Around 40 employees in six stores are affected by the insolvency proceedings: two in Mannheim, two in Baden-Baden and one each in Heidelberg and Karlsruhe. According to Wirtz, their wages have been secured until the end of this month by insolvency benefits from the Federal Employment Agency, and the stores have continued to operate without restrictions.
Going forward, “the priority is to further stabilise ongoing business operations and to explore all options that could enable a viable future solution for the company and its employees. Exploratory talks have also been and are being held with suppliers and landlords”, explained the Mannheim-based insolvency lawyer.
Source: shoez.biz
Image Credits: karlsruhepuls.de
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