Overview
- In mid‑June Picard filed Sanierungsantrag in Eigenverwaltung for its two operating German entities and the Amtsgericht Offenbach has approved the procedure.
- Management remains in place while the court named Nadja Raiß as provisional custodian and the company added external restructuring advisers from Görg and Montag & Montag.
- Picard says operations continue without interruption, including two airport stores and a profitably growing online shop, and that wages for about 90 employees are secured for now.
- The company blames weak consumer demand and lower retail spending for the shortfall that prompted the filing and plans operational and financial measures to restore stability.
- Executives expect to exit the self‑administered procedure by autumn 2026, and the outcome will depend on the advisers’ restructuring plan and the pace of consumer recovery.