World Footwear

Companies

Reno completes partial restructuring

Oct 5, 2023 Germany
Reno completes partial restructuring
The footwear retailer has finalised a partial restructuring, keeping more than 20 stores. Meanwhile, the media reported that dozens of new creditors have registered their claims in the insolvency proceedings
“It is a positive development for a procedure that initially offered little hope of an even remotely satisfactory result”, commented the insolvency administrator Immo Hamer von Valtier from the InsoTreu law firm. 

By keeping more than 20 stores – including nine that will continue to operate under the Reno name – the traditional Reno brand can continue to exist after the insolvency proceedings have been completed”, he added.

Meanwhile, the media has reported that the number of creditors has increased from 520 to more than 600, while the total value of claims has risen from 33 million euros to almost 100 million euros since the audit date on the 14th of August.

The Osnabrück-based footwear retailer filed for bankruptcy at the end of March amid a crisis in the German footwear sector which led to a wave of insolvencies in recent months; subsequently, the company's Austrian and Swiss subsidiaries followed suit.



Source: shoeintelligence.com

Image Credits: shoes-report.com


Related Events

  • Mar
    3
    Mar 3-Mar 5, 2024 | Düsseldorf, Germany

    Shoes Dusseldorf

  • Mar
    19
    Mar 19-Mar 21, 2024 | Essen, Germany

    Hauptmusterung Damen- Und Herrenschuhe In Bad Kreuznach

  • May
    14
    May 14-May 17, 2024 | Leipzig, Germany

    Otworld

  • Jun
    3
    Jun 3-Jun 5, 2024 | Munich, Germany

    ISPO Munich

Related Organizations

  • German Shoe Museum Hauenstein

    German Shoe Museum Hauenstein

    Germany
  • DLM Leather Museum Offenbach

    DLM Leather Museum Offenbach

    Germany
  • IVO - International Association for Orthopaedic Shoe Technicians

    IVO - International Association for Orthopaedic Shoe Technicians

    Germany
  • LGR - Leather Institute Tanning School Reutlingen

    LGR - Leather Institute Tanning School Reutlingen

    Germany