Overview
- Closed GmbH applied for insolvency on August 5, 2025 at the Hamburg District Court, appointing BRL partner Stefan Denkhaus as provisional administrator.
- The insolvency follows creditor banks freezing its credit lines last year, which led to partial non-payment of salaries for roughly 350 employees.
- The company, known for its “Made in Europe” premium denim, generated about €120 million in annual revenue before falling into financial distress.
- Under insolvency protection, wholesale, online, and retail operations remain fully operational across 27 full-price stores, six outlets, and nine franchises.
- Denkhaus has funded payroll for approximately 450 staff and is conducting active negotiations with potential investors to preserve and restructure the brand.