Fink Schuhe + Sport, a German retail chain of 54 shoe and sporting goods stores, has applied for insolvency proceedings. A temporary receiver, Georg Bernsau from the law firm of BBL Bernsay Brockdorff, has been appointed, and the company will continue to operate normally. The bankruptcy petition became necessary because Fink was unable to negotiate new terms with its banks after its credit lines expired on Dec. 31. Michael Sylvester, who joined the retailer's executive board last Aug. 1, is in the process of restructuring the company together with Ralph-Peter Wirtz and Ernst & Young. Rolf Lahr, a shareholder who was responsible for sourcing, is no longer on the executive board, which now consists of Wirtz and Sylvester only. The retail company trades under various banners: Fink Schuhe, Sport Fink, Danny Shoes, Lahr Schuhe, Monopol Schuhe, Kempe Schuhe, Daniela Schuhe, Buttler Schuhe, United Shoes, Fink Exclusiv and Fink Due. Experts in the shoe industry claim that Dielmann, a German chain of shoe shops based in Darmstadt, and the ANWR Group have expressed interest in acquiring some of Fink's stores.