Insolvency registered: Schuh Graf starts renovation - shops remain open!

Insolvency registered: Schuh Graf starts renovation - shops remain open!

Geislingen an der Steige, Deutschland - In an unexpected turn, the Baden-Württemberg family company Schuh Graf Insolvenz. This step took place on June 3, when the Stuttgart District Court approved a renovation procedure in self -administration. This means that the company is in a critical point in its history while trying to free itself from the economic imbalance.

Schuh Graf operates a total of 27 branches-26 in Baden-Württemberg and one in Hesse-and employs around 160 people. The shops are known under the brands "Schuh-Mann" and "Quick Schuh" and remain open despite the bankruptcy so that customers can shop as usual. The salaries of the employees are secured for the next three months through bankruptcy money, which is taken over by the Federal Employment Agency.

background of bankruptcy

The reasons for registration of bankruptcy are diverse. According to the company, a weak economic situation, the persistent trend towards online trading and high inflation are relevant factors for the difficulties. In a market in which customers' purchase retention is strongly pronounced, the stationary shoe trade has also suffered greatly. The renovation concept aims to secure the competitiveness and market position of Schuh Graf in the long term by negotiating new conditions with business partners.

Steffen Beck from Pluta Rechtsanwalts GmbH was used as a general activity representative to lead the restructuring process. Managing Director Götz M. Graf is optimistic and hopes for a sustainable renewal of the company.

industry situation and trends

The situation of Schuh Graf is not an isolated case. In 2024, a total of 21,812 companies in Germany filed for bankruptcy, an increase in around 4,000 applications compared to the previous year. This corresponds to an increase of 22.4%, which is partly due to the current and earlier crises that many companies put under pressure. Interestingly, bankruptcies are a relatively rare form of corporate closure, and only about 6% of all company closures go back to an bankruptcy application, which makes it clear that many companies are trying to find a way even in times of crisis.

In the region, the future of Schuh Graf is persecuted. The next few months will show whether the company can successfully implement the renovation measures and whether it is possible to tear the rudder around and renew its market perspective.