All Corporate articles – Page 3
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ArticleGerry Weber is insolvent again
Gerry Weber has slipped back into bankruptcy less than two years after its last insolvency proceedings, as disappointing Christmas sales and a significant drop in pre-orders for the third quarter of 2025, compared to the previous year, took their toll. The local court in Bielefeld opened insolvency proceedings under self-administration ...
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EEC launches a new company structure and advisory board
The European-Clearing-Center (ECC) has streamlined its corporate structure and now operates as a GmbH, or a limited liability company in Germany. The restructuring, according to ECC, aims at increasing efficiency and sharpening the strategic focus of the company, which acts as a platform for electronic data exchange between producers and ...
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Sports Gear opens a factory in Portugal
Sports Gear, a Taiwanese group specializing in sports footwear and supplying major brands such as Adidas, Nike and Puma, has invested €15.3 million in a factory in the Portuguese town of Estarreja, the Portuguese daily Diário de Notícias reported. Inaugurated on March 7, the factory currently employs 20 workers, but ...
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Altofare reportedly to renegotiate its debt
Altofare, an Italian supplier of components to the luxury goods industry, including footwear, is preparing to renegotiate its debt with creditors, according to the news agency Bloomberg. The group has hired the consultancy KPMG and the law firm Chiomenti for advice on its debt, Bloomberg reported, citing people familiar with ...
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ArticleForever 21’s US operating company files for bankruptcy
Forever 21’s US operating company filed for bankruptcy about five years after exiting its last Chapter 11 proceedings due to fierce competition from other fast-fashion retailers such as Shein and Temu. F21 OpCo, the operator of Forever 21 stores and licensee of the brand in the US, entered into a ...
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ArticleLudwig Reiter closes historic company headquarters in Vienna
Ludwig Reiter is closing its former headquarters in Vienna’s historic Dreimäderlhaus. After almost 30 years, the Austrian shoe manufacturer will leave the building at Schreyvogelgasse 10 in the Austrian capital’s city center at the end of the month. Built in the late 18th or early 19th century, the two-story townhouse ...
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ArticleGeox sees growth accelerating over the course of five-year industrial plan
Geox expects growth in sales and profits to accelerate over the course of a new five-year industrial plan, as the Italian footwear company moves from an initial phase focused on improving operating efficiency to one characterized by bolstering its presence on key markets and a new push for international expansion. ...
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Wortmann invests €20m in an automated warehouse
The German footwear manufacturer and distributor Wortmann Group is expanding its logistics hub in Detmold with a fully automated warehouse with a shuttle system. With an investment of around €20 million, Wortmann aims to boost delivery efficiency and expand its capacity in the European market, allowing it to handle ...
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ArticleGörtz announces layoffs as its insolvency crisis deepens
The German shoe retailer Görtz continues to navigate dire straits as it grapples with insolvency issues across multiple fronts. Görtz Retail GmbH announced the layoff of 93 employees, after the Federal Employment Agency rejected the retailer’s application for pre-financing of insolvency benefits, affecting approximately 400 workers. The layoffs ...
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Phoenix Kothari Footwear increases investment in India’s Tamil Nadu state
Phoenix Kothari Footwear, a joint venture between Chennai-based Kothari Industrial Corporation and Taiwan’s Evervan Group, will invest 5,000 crore rupee (€552m) to set up factories to produce non-leather footwear in Eraiyur and Karur in the southern state of Tamil Nadu, the Indian publication The Hindu BusinessLine reported. In the Indian ...
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Semler files for bankruptcy
The traditional German shoe manufacturer Carl Semler GmbH filed for bankruptcy at the Pirmasens Local Court as a massive drop in sales and payment defaults took their toll on the company’s bottom line. The court appointed restructuring expert Lukas Eisenhuth of the law firm Abel and Partners as general representative ...
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ArticleGörtz faces insolvency again
One and a half years after the end of its insolvency proceedings, the troubled Hamburg-based shoe retailer Görtz is once again facing bankruptcy. On Jan. 20, the Hamburg District Court appointed the lawyer Gideon Böhm of the law firm Münzel & Böhm as provisional insolvency administrator, after four creditors filed ...
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Munro closes down
Munro & Company, Inc, a US footwear company based in Hot Springs, Arkansas, announced that it is closing down. “With heavy hearts, we are sad to announce that after 52 years of designing, developing and manufacturing high quality size and width footwear, Munro will cease operations in early 2025,” the ...
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ArticleSneakersnstuff files for bankruptcy
For the first decade of the millennium, it was the hip Södermalm neighborhood in central Stockholm where the sneaker world turned its attention when it came to product releases for limited-edition shoes. Outside the store of Swedish sneaker retailer Sneakersnstuff, or SNS as the industry, colleagues and sneaker fans all ...
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Clarks completes the sale of its UK pension liabilities
The Pension Insurance Corp. (PIC) has completed an annuity buy-in with the C.& J. Clark Pension Fund, the benefit plan of C. & J. Clark International Ltd. The buy-in will cover £540 million pounds (€644m) of plan liabilities for 8,000 members. In 2022, PIC had a already bought £280 million ...
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Dass closes a factory in Argentina
Dass, a Brazilian footwear manufacturer specializing in sports shoes, has closed a plant located in the Argentine town of Coronel Suárez due to adverse market conditions in Argentina. According to the local press, the closure will result in 360 job losses. The plant produced shoes for the brands Adidas, Nike ...
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ArticleGeox plans to raise €60m to finance its business plan
Geox announced a refinancing program that includes €60 million in fresh capital to finance its business plan spanning from 2025 to 2029. The Italian footwear company reached an agreement with a pool of banks – including Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Banco BPM, BPER Banca, ...
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Jimmy Choo opens a new office for its supply chain management
Jimmy Choo is scheduled to open its new offices for the management of the supply chain on Jan. 7. Located in Scandicci, near Florence, the 3,000-square-meter building has three floors containing offices and warehouses, and a further 2,600-square-meter basement for parking and utility rooms. The British shoemaker is owned by ...
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ArticleHong Fu breaks ground on its Tamil Nadu factory
On Dec. 16, MK Stalin, the Chief Minister of the Indian state of Tamil Nadu, laid the foundation stone for a manufacturing unit of the Taiwanese footwear firm Hong Fu Industrial Group at the SIPCOT Park Industrial Estate at Panapakkam in the Ranipet district. The 1,500 crore rupee (€168 million) ...
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ArticleFuture Fashion winds down DIS
The Italian footwear brand DIS will stop operating on Dec. 31, 2024 after its parent company Future Fashion decided to close down the loss-making business. Created in June 2015, DIS, which stands for Design Italian Shoes, offered customized footwear through online sales or dedicated corners in third party stores. DIS ...
