Overview
- Wormland has entered insolvency proceedings for a second time, according to trade outlet Textilwirtschaft.
- Attorney Stephan Michels of Michels-Anwälte has been appointed as the preliminary insolvency administrator.
- The company’s registered seat was recently moved to Osnabrück after closing its former headquarters in Hanover under L&T’s ownership.
- Reports differ on the retailer’s current footprint, with nine stores cited by Frankfurter Rundschau and twelve by t-online.
- Coverage points to potential outcomes such as store rationalization or a search for new investors, set against persistent pressures on city-center retail from online shopping and weak consumer demand.