Görtz Faces Renewed Insolvency, Putting Employee Wages at Risk

The Hamburg-based shoe retailer struggles with financial mismanagement, jeopardizing wages for 400 employees as legal and operational challenges mount.

Görtz's second insolvency follows an incomplete implementation of its 2023 restructuring plan, which was meant to stabilize the company after its first financial crisis.
The Austrian investor CK Technology Solutions GmbH only paid €500,000 of the promised €1.8 million, while the remaining €1.3 million was offset against disputed claims, now the subject of a legal case in Hamburg.
The Federal Employment Agency may deny new insolvency payments to employees, citing the unresolved status of the first insolvency, leaving 400 workers in financial uncertainty.
The company, which once operated 160 stores and employed 1,800 people, has reduced its operations to around 30 stores due to closures tied to rental disputes and financial strain.
Insolvency administrator Gideon Böhm is exploring potential buyers and alternative liquidity solutions to ensure wage payments and preserve the 150-year-old brand, though the company's trademark rights are owned by an Austrian entity.