Overview

• 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.